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An Australian exporter wishes to sell its Singapore dollar receipts SGD500000 through a FX dealer and receives the following quote: 'Aussie Sing. dollar spot is

An Australian exporter wishes to sell its Singapore dollar receipts SGD500000 through a FX dealer and receives the following quote: 'Aussie Sing. dollar spot is one-oh-five forty to fifty'. What is the value of the export receipt?

$527000.00
$473933.65
$474383.30
$527500.00

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