Multiple Choice
Robben Inc.converted 1 million dollars into euros when the exchange rate was $1 = €0.75.The company converts this back into dollars after three months when the exchange rate is $1 = €0.80.Which of the following is true of the outcome of this transaction?
A) Loss of $62,500
B) Loss of $66,667
C) Gain of $50,000
D) Gain of $62,500
Correct Answer:
Verified
Correct Answer:
Verified
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