In 1985, a Given Japanese Imported Automobile Sold for 1,476,000

question 5

Multiple Choice

In 1985, a given Japanese imported automobile sold for 1,476,000 yen, or $8,200.If the car still sold for the same amount of yen today but the current exchange rate is 144 yen per dollar, what would the car be selling for today in U.S.dollars?

• A) $5.964
• B) $8,200
• C) $10,250
• D) $12,628
• E) $13,525

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Definitions:

Capital

Financial assets or resources owned by an individual or organization, used for investment or production.

Corporate Bylaws

Detailed rules adopted by a corporation governing its operations, including the rights and responsibilities of shareholders and directors.

Corporation By Estoppel

A legal doctrine that prevents a party from denying the corporate existence of a company when it has treated it as a corporation.

De Facto Corporation

A business treated as a legally incorporated company for all purposes except against the state in a direct proceeding, despite not completing the incorporation process properly.