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A firm wants to use an option to hedge NZ$11.5 million in receivables from New Zealand firms. The premium is $0.03. The exercise price is

A firm wants to use an option to hedge NZ$11.5 million in receivables from New Zealand firms. The premium is $0.03. The exercise price is $0.50. If the option is exercised, what is the total amount of dollars received (after accounting for the premium paid)

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