You purchase 1,500 American Depository Receipts (ADRs) of Siemens AG (ticker symbol SIEGY) at $56

Business Mar 22, 2023

You purchase 1,500 American Depository Receipts (ADRs) of Siemens AG (ticker symbol SIEGY) at $56.42 per ADR. Over the course of the next month, the euro appreciates by 5.5%, while the price of Siemens' shares listed in Germany declines by 2%. The Company does not pay a dividend during this period. Besed upon this information, cacluate the total gain or loss of this investment in U.S. dollars.