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Question 35 4 points Cypress Systems Inc. of Florida, agrees to sell specialized hydroponic growing equipment to Landonster's of Australia. Becmne the two companies have
Question 35 4 points Cypress Systems Inc. of Florida, agrees to sell specialized hydroponic growing equipment to Landonster's of Australia. Becmne the two companies have never done business with each other, Cypress requires a banker's acceptance as payment for the 51,000,000 order. The banker's acceptance carries a 1.4% commission per annum and payment is to be received in 6 months. If Cypress Inc. chooses to discount or sell the banker's acceptance to its bank, the discount rate is 1.00% pertum. What is the size of the commission Cypress will pay the bank for the banker's acceptance? (points) 55,000 $7,000 $12.000 $14.000
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