52.

52). You've exported to a firm in China, and have been issued a bankers acceptance as part of a letter of credit. The amount is for 200,000 RMB (Chinese Yuan). The annualized acceptance fee is 2%, and the annualized discount is 5%. If you wait until the acceptance matures in 60 days and redeem yourself (i.e., not selling to the money market), what's your net Yuan Proceeds? A) 186,000 B) 200,000 C) 199,333 D) 192,000 E) 195,000