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On December 1, 20X1, Sycamore Company acquired a 90-day speculative forward contract to sell 135,000 at a forward rate of 1= $0.48. The rates are

image text in transcribed On December 1, 20X1, Sycamore Company acquired a 90-day speculative forward contract to sell 135,000 at a forward rate of 1= $0.48. The rates are as follows: Required: a. Determine the effects of this speculation on 201 income before income taxes. b. Determine the effects of this speculation on 202 income before income taxes

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