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QUESTION 3 Apple sells iPhone in many countries, including India. The company expects to receive 487,000,000 Indian rupees (INR) from its exports in one year

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QUESTION 3 Apple sells iPhone in many countries, including India. The company expects to receive 487,000,000 Indian rupees (INR) from its exports in one year The spot rate is $0.0124 per rupee and the one-year forward rate is $0.0127 per rupee. The U.S. interest rate is 3% and the Indian interest rate is 10% What is the dollar value of the rupees received now (in )? O $4,427,273 O $3,570,381 $5,389,818 O $5,489,818

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