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Problem 21.02 Cullumber Corporation's recent sale to a firm in Mexico produced revenues of 14,740,000 Mexican pesos (MPs). If the firm sold the pesos to

Problem 21.02

Cullumber Corporation's recent sale to a firm in Mexico produced revenues of 14,740,000 Mexican pesos (MPs). If the firm sold the pesos to its bank and was credited with $1,282,380.00, what was the spot rate at which the pesos were converted?

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