Spot rate: Crescent Corporations recent sale to a firm in Mexico produced revenues of 19,500,000 Mexican pesos.
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Spot rate: Crescent Corporation’s recent sale to a firm in Mexico produced revenues of 19,500,000 Mexican pesos. If the firm sold the pesos to its bank and was credited with $1,077,873.60, what was the spot rate at which the pesos were converted?
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781119795438
5th Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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