Find the foreign currency gain or loss for this u.s. mnc, Ask an Expert

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Find the foreign currency gain or loss for this U.S. MNC translating the balance sheet and income statement of a French subsidiary, which keeps its books in euro, but that is translated into U.S. dollars using the current/noncurrent method, the reporting currency of the U.S. MNC.

The subsidiary is at the end of its first year of operation.

The historical exchange rate is $1.60/€1.00 and the most recent exchange rate is $1.50/€

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