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Suppose that Baltimore Machinery sold a drilling machine to a Swiss firm and gave the Swiss client a choice of paying either $11,000 or SF16,500

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Suppose that Baltimore Machinery sold a drilling machine to a Swiss firm and gave the Swiss client a choice of paying either $11,000 or SF16,500 in three months. Required: Baltimore Machinery effectively gave the Swiss client a free option to buy up to $11,000 using Swiss francs. What is the "implled" exercise exchange rate? Note: Round your answer to 4 decimal places

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