5. On April 30, 2005, the buying spot rate for the local currency unit (LCU) was $0.15,...
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5. On April 30, 2005, the buying spot rate for the local currency unit (LCU) was $0.15, the selling spot rate was $0.17, and the 30-day forward rate was $0.19. If on that date a U.S. multinational enterprise received a LCU100,000 draft from a foreign customer in settlement of a purchase made by the customer on March 31, 2005, the U.S. enterprise may convert the LCU100,000 draft to:
a. $15,000
b. $17,000
c. $19,000
d. Some other amount
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