:betup 2 Q3 3) On November 1, 2014, the Yankee Corporation, a US corporation, purchased and received an extruding machine from Wales Corporation, a UK company. The purchase price was $10,000(U.S. dollars) and mor Yankee agreed to pay in pounds on February 1, 2015. Both corporations are on a calendar year accounting period. Assume that the spot rates for the British pound on November 1, 2014, December 31, 2014, and mo February 1, 2015, are $1.60, $1.62, and $1.66, respectively. Required: 2