Question: Orbital Communications has operating plants in over 100 countries. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held

Orbital Communications has operating plants in over 100 countries. It also keeps funds for transactions purposes in many foreign countries. Assume in 2010 it held 220,000 kronas in Norway worth $47,000. The funds drew 14 percent interest, and the krona increased 5 percent against the dollar.

What is the value of the holdings, based on U.S. dollars, at year-end?

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