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What is the dollar amount of the dividend received by red

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Reference no: EM131820003

Question - Teal, Inc., a foreign corporation, pays a dividend to its shareholders on November 30. Red, Inc., a U.S. CORPORATION AND 7% SHAREHOLDER in Teal, receives a dividend of 10000K (A FREIGN CURRENCY). Pertinent exchange rates are as follows.

November 30 .9K: $1

Average for year .7K: $1

December 31 2K: $1

What is the dollar amount of the dividend received by Red, Inc.? Does Red, Inc., have a foreign exchange gain or loss on receipt of the dividend?

Reference no: EM131820003

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