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On July 15, 2XX6, Liz converts 535,000 U.S. dollars to Japanese yen in the spot foreign exchange market (108.52/$) and purchase a six-month forward contract
On July 15, 2XX6, Liz converts 535,000 U.S. dollars to Japanese yen in the spot foreign exchange market (108.52/$) and purchase a six-month forward contract (105.3/$)to convert yen into dollars. What is Liz's profit or loss in U.S. dollars at the end of six months?(Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16). Use a negative sign to denote a loss.)
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