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On January 1, 2020, Brands Inc. entered into a forward contract to purchase $200,000 US for $256,000 CAD on June 30, 2020. On March 31,

On January 1, 2020, Brands Inc. entered into a forward contract to purchase $200,000 US for $256,000 CAD on June 30, 2020. On March 31, 2020, the exchange rate is 1.25 CAD : $1 USD. Assume no entrie...

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