A company whose parent operations are based in Kenya has established a branch in Tanzania whose financial year ends the same time as the calendar year. The expenses paid at the branch during the year amounted to Tsh.18,000,000. The following information is also available at the branch: 1) Accrued expenses amounted to Tsh 15,000,000.

2) Prepaid expenses amounted to Tsh 18,000,000.

3) Non-current assets of Tsh.120,000,000

The exchange rates available are: Historic rate (1Ksh=Tsh15), Closing rate (1Ksh=Tsh10), Average rate (1Ksh=12), Actual rate (1Ksh=Tsh11.82)

Compute the amount of expenses in the currency of the Head Office (use presentation method)