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Marko Company sold spray paint equipment to Spain for 4,400,000 pesetas (P) on October 1, with payment due in six months. The exchange rates were
Marko Company sold spray paint equipment to Spain for 4,400,000 pesetas (P) on October 1, with payment due in six months. The exchange rates were
| October 1, 20X6 | 1 peseta | = | $ | 0.0048 | |
| December 31, 20X6 | 1 peseta | = | 0.0075 | ||
| April 1, 20X7 | 1 peseta | = | 0.0073 | ||
| How much overall net gain or net loss did Marko have from its foreign currency exposure? | |||||
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