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Question 1: On September 1, 20x7, TIE Corporation submitted a US$100,000 purchase order for equipment when the exchange rate was US$1 = C$1.161. On October 31, 20x7, it received the equipment, when the exchange rate was C$1.169. On December 1, 20x7, it paid US$50,000 to the supplier, when the exchange rate was C$1.176. On December 31, 20x7, the exchange rate was C$1.180. What is the foreign exchange loss on this series of transactions for the year ended December 31, 20x7?
a)1100
b)900
c)1900
d)1700
Question 2: based on above information , what is Canadian dollar cost of TIE equipment on its December 31,2007balance sheet?
A)116,900
B) 116,100
C)117,800
D)118000
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