I agree. I am a native English speaker, and I also chose ‘There it is!’ as the answer, and was marked wrong. But I think it is equivalent to ‘That’s it! in the context. The meaning of these phrases depends to some extent on how they are said, the intonation.
Bonjour à tous,
"There it is!" is more the equivalent of the famous French phrase "voilà !" As Stephen pointed out, in this context, "Ça y est!" is equivalent to "that's it / It's done!" as they are pointing out that they've finally arrived.
I hope this is helpful.
You are right Daniel, I am an English native speaker and none of the translations felt natural to me in the context of that question. I was confused regarding the French translation for that reason. Hope this feedback note helps improvements for the next writing :)
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