Q11.On January 1, 2024, Larnach Company, a U.S. corporation with the U.S. dollar as its functional currency, established Castro Company as a subsidiary. Castro is located in the country of Oliva, and its functional currency is the stickle (). Castro engaged in the following transactions during 2024:

January 1, 2024	Issued common stock for 500,000
July 14, 2024	Sold a patent at a gain of 40,000
October 1, 2024	Paid dividends of 60,000

Castro's operating revenues and expenses for 2024 were 800,000 and 650,000, respectively. The appropriate exchange rates were:

January 1, 2024	1 = $ 2.5
July 14, 2024	1 = $ 2.1
October 1, 2024	1 = $ 2.6
December 31, 2024	1 = $ 2.7
Average for 2024	1 = $ 2.4

Required:

Calculate the translation adjustment for Castro.