The time from acceptance to maturity on a $1,010,000 bankers acceptance is 90 days. The importers banks acceptance commission is 2.00 percent and the market rate for 90-day B/As is 6.00 percent. What amount will the exporter receive if he holds the B/A until maturity? If he discounts the B/A with the importers bank? Also determine the bond equivalent yield the importers bank will earn from discounting the B/A with the exporter. If the exporters opportunity cost of capital is 11 percent, should he discount the B/A or hold it to maturity?

Note: Do not round intermediate calculations. Round "Maturity value" to 2 decimal places. Enter "Bond equivalent yield" as a percent rounded to 2 decimal places.

\begin{tabular}{|l|l|l|} \hline Amount the exporter will receive at maturity & & \\ \hline Amount the exporter will receive if discounted & & % \\ \hline Bond equivalent yield & & \\ \hline Should he discount the B/A or hold it to maturity? & Discount the B/A & \\ \hline \end{tabular}