(2) Malaysias Top Glove exported its rubber gloves to United Kingdom and issued an invoice for 1,230,000. Payment will be due in 90 days. The spot rate is MYR5.55 per 1. On Day 90, the spot rate has changed to MYR5.50. Determine how much would Top Glove receive? Is there any exchange loss/gain? If so, how much is the loss/gain? State the reason.

Note: Marks will be awarded with detailed workings. Final answer to be rounded up to two decimal places. (5 marks)

(ii) The average price of Chateau Mouton Rothschild 1982 red wine is 1,245 per bottle. One US dollar currently exchanges at a rate of 0.80. Meanwhile, the exchange rate of Euro to Japanese Yen is 126. Calculate how much an American must pay in dollar for five bottles of the said wine. And what is the price a Japanese would have to pay to buy a bottle of the best wines of France. Note: Marks will be awarded with detailed workings. (5 marks)