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Did latimore make or lose money on exchange rate movement

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Reference no: EM132792714

The Latimore Company invested $8 million in a new plant in Italy when the exchange rate was 1.1500 euros to the dollar. At the end of the year, the rate was 1.2000 euros to the dollar.

Problem 1: Did Latimore make or lose money on the exchange rate movement? How much? Do not round your intermediate calculations. Round your answer to the nearest dollar. Enter your answer in whole dollars. For example, an answer of $1.2 million should be entered as 1,200,000 not 1.2.

Reference no: EM132792714

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