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Has Wruck Enterprises made a gain or a loss

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Problem - Your Boston-headquartered manufacturing company, Wruck Enterprises, obtained a 50-million-peso loan from a Mexico City bank last month to fund the expansion of your Monterrey, Mexico, plant. The exchange rate was 10 U.S. cents per peso when you took out the loan, but since then the exchange rate has dropped to 9 U.S. cents per peso. Has Wruck Enterprises made a gain or a loss due to the exchange rate change, and how much? Note that your shareholders live in the United States.

Reference no: EM132907164

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