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Cerra Co. expects to receive 5 million euros tomorrow as a result of selling goods to the Netherlands. Cerra estimates the standard deviation of daily

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Cerra Co. expects to receive 5 million euros tomorrow as a result of selling goods to the Netherlands. Cerra estimates the standard deviation of daily percentage changes of the euro to be 1 percent over the last 100 days. Use the value-at-risk (VaR) method to compute the maximum one-day percentage loss if the expected percentage change of the euro tomorrow is 0.5 percent. 1.5 percent 0.5 percent 2.2 percent 1.15 percent 2.5 percent

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