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XYZ Corporation imports goods from China with a total invoice value of $ 1 0 , 0 0 0 , 0 0 0 . The

XYZ Corporation imports goods from China with a total invoice value of $10,000,000. The exchange rate between the US dollar (USD) and the Chinese yuan (CNY) is 1 USD =6.95 CNY. However, due to a temporary market fluctuation, XYZ Corporation negotiates a discount of 2% on the invoice value. What is the total amount in Chinese yuan that XYZ Corporation needs to pay after applying the discount?

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