Megatron Corp

Multiple Choice

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?

A) $12,223
B) $22,560
C) $24,128
D) $20,944