Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lets suppose you (USA dealer) imported one Earth Equipment machine from German dealer on March 1, 2017 at 300,000 each, payable in 30 days. The

Lets suppose you (USA dealer) imported one Earth Equipment machine from German dealer on March 1, 2017 at 300,000 each, payable in 30 days. The exchange rate on March 1, 2017 was 1.16 US$/. Then you sold the machine in the US market at US$350,000 in cash on March 29, 2017. On April 1, 2017, you paid to Italian car dealer at the exchange rate of 1.19 US$/. What was profit or loss from this business in terms of US$? (Please assume all costs are included in price.)

Group of answer choices

-4500

-9200

-10200

-7000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management For Public, Health, And Not-for-Profit Organizations

Authors: Steven A. FinklerDaniel L. Smith, Thad D. Calabrese

6th Edition

978-1506396811, 150639681X

More Books

Students also viewed these Finance questions

Question

2. Did you consider any other alternatives?

Answered: 1 week ago

Question

What are the purposes of promotion ?

Answered: 1 week ago

Question

Define promotion.

Answered: 1 week ago

Question

What is Nutriens approach to handling personal information?

Answered: 1 week ago