What is dollar amount of the dividend received by red

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Reference no: EM131914054

Teal, Inc., a foreign corporation, pays a dividend to its shareholders on November 30. Red, Inc., a U.S. corporation and 7% shareholder in Teal, receives a dividend of 10,000K (a foreign currency). Pertinent exchange rates are as follows. November 30 0.9K:$1 Average for year 0.7K:$1 December 31 0.95K:$1 What is the dollar amount of the dividend received by Red, Inc.? $_________? (Round to the nearest dollar.)

Reference no: EM131914054

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