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Suppose DeGraw Corporation, a Canadian exporter, sold a solar heating station to a Japanese customer ...

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Suppose DeGraw Corporation, a Canadian exporter, sold a solar heating station to a Japanese customer ...

Suppose DeGraw Corporation, a Canadian exporter, sold a solar heating station to a Japanese customer at a price of 106.0875 million yen, when the exchange rate was 103.5 yen per dollar. In order to close the sale, DeGraw agreed to make the bill payable in yen, thus agreeing to take some exchange rate risk for the transaction. The terms were net 6 months. If the yen fell against the dollar such that one dollar would buy 110.2 yen when the invoice was paid, what dollar amount would DeGraw actually receive after it exchanged yen for Canadian dollars?

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$1,060,875

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$1,025,000

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$962,681

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$929,404

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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rangelife

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More solutions for this book are available here

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pjstaud Author

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Good timing, thanks!

homework1

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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Thanks

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