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How much the fixed asset value is restated on december

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Reference no: EM133012282

Problem 1: Haye company operates in the country which in 2020 will be declared in hyperinflation conditions for the first time. One of haye's assets is machine tools purchased in late December 2010 for LCU100 million. The consumer price indexes on December 31, 2010 and December 31, 2020 were 54,224 and 223,100, respectively. Calculate how much the fixed asset value is restated on December 31, 2020.

Reference no: EM133012282

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