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On December 1, 2021 Pimlico made sales to a customer in India and recorded Accounts Receivable of 10,000,000 rupees. The customer has until March 2022
On December 1, 2021 Pimlico made sales to a customer in India and recorded Accounts Receivable of 10,000,000 rupees. The customer has until March 2022 to payOn December 1, 2021Pimlico paid $500 for a put option to sell rupees at a strike price of $2.30 per 100 rupees on March 12022, which was the spot rate on December 12021. On December 31, 2021, the spot rate was $2.80 per 100 rupees and the option premium was $0.004 per 100 rupees . If the spot rate on March 1, 2022 was $2.45 per 100 rupees, what is the foreign currency exchange gain or loss that should be recorded that day? Choice $ 35,000 gain $35,000 loss $ 15,000 \$15,000 gain
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