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On April 17th, 2017, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange market at the exchange rate of 114.22 yen

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On April 17th, 2017, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange market at the exchange rate of 114.22 yen per U.S. dollars and purchased a one-week forward contract to convert yen into dollars where the exchange rate of U.S. dollars for Japanese yen is $0.008787. What is your dollar and percentage return on this transaction? If the spot exchange rate of U.S. dollars for Japanese yen in one-month time was $0.005787. Do you think the forward contract was beneficial

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