Answer:
2018 Foreign currency gain $9,740.26 million
2019 Foreign currency gain $13,975.16 million
Explanation:
Calculation of foreign currency gain or loss for 2018
Total amount payable as at 15th Dec $545,454.55 million ($60 million/110)
Total amount payable as at 31st Dec $535,714.29 million ($60 million/112)
Foreign currency gain $9,740.26 million ($545,454.55-$535,714.29)
The amount payable based on 31st December year end exchange rate is lesser than on date of purchase which result in a gain for the company
Calculation of foreign currency gain or loss for 2019
Total amount payable as at 31st Dec $535,714.29 million ($60 million/112)
Total amount actually paid on 02nd Feb $521,739.13 million ($60 million/115)
Foreign currency gain $13,975.16 million ($535,714.29-$521,739.13)
