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How much is his gain

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Question - Steve invested £4 million in JMDJ, a U.S. company, trading at a market value of $100 per share. The conversion rate for pounds to dollars was £1 to $1.4 at the time of the investment. Assume that after two years, he sells the stock, for $250 per share when the conversion rate for pounds to dollars is £1 to $1.30. How much is his gain? Please show all steps in Excel, with explanation.

Reference no: EM132642591

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