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Last year, the French marketing subsidiary of International Pharmaceuticals Corporation (IPC), a New Jersey-based drug manufacturer, earned 700,000 euros.

This year, partly due to a weaker U.S. dollar, the French subsidiary will earn 900,000 euros. Last year, the exchange rate was 1.2 euros per dollar, and this year, it is 1.0 euros per dollar.

Calculate how many U.S. dollars the French subsidiary contributes to IPC's earnings in each year.

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Corporate Finance, Finance

Category:- Corporate Finance
Reference No.:- M92088400

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