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11. EFS Ltd (a UK company) sold goods to the value of USD2.0 million. Receipt is due in 90 days. The current spot rate is

11. EFS Ltd (a UK company) sold goods to the value of USD2.0 million. Receipt is due in 90 days. The current spot rate is GBP1 = USD 1.5430 - 1.5150. There is a three-month discount forward of 2.5 cen...

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