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Megatron Corp

question 72

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Megatron Corp. earned net income of 16,000 Euros in its overseas branch at France. Its headquarters is located in the U.S. The rate of conversion during set up was $1.309 / Euro. What is the value of its income in its home currency if the rate is $1.508 / Euro at the end of a financial year and the average rate being $1.410 / Euro?


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