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Graylon, Inc., based in Washington, exports products to a German firm and will receive payment of 359,737 euros in three months. On June 1, the
Graylon, Inc., based in Washington, exports products to a German firm and will receive payment of 359,737 euros in three months. On June 1, the spot rate of the euro was $1.01, and the 3-month forward rate was $1.2. On June 1, Graylon negotiated a forward contract with a bank to sell 359737 euros forward in 3 months. The spot rate of the euro on September 1 is $1.24. How many dollars will Graylon will receive for the euros (round to a dollar)?
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