With accumulated depreciation of 75,000 pesos for 140,000 pesos on March 1, 2009. The equipment was purchased on January 1, 2008, when the exchange rate for the peso was $.11. Relevant exchange rates for the peso are as follows:
The financial statements for Perez are re-measured by its U.S. parent.
What amount of gain or loss would be reported in its translated income statement? D. $1,090