Find the net profit after tax translated

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Question - Mortimer Limited has the following items in its statement of profit or loss and other comprehensive income:

Revenue FC60

Cost of goods sold FC22

Interest expense FC8

Income tax expense FC10

All items arose evenly across the year. The following exchange rates applied:

End of reporting period FC1 = $0.80

Average rate for year FC1 = $0.75

Required - Find the net profit after tax translated into the presentation currency?

a. $15 000

b. $16 000

c. $25 000

d. $26 667

Reference no: EM132624941

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