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You contracted 2000 bushels of corn for JAN delivery at $3.85/bu. Upon delivery, your corn tests 16.5% moisture. The elevator charges $.05/point (.1 percentage point)
You contracted 2000 bushels of corn for JAN delivery at $3.85/bu. Upon delivery, your corn tests 16.5% moisture. The elevator charges $.05/point (.1 percentage point) above 15.5% moisture. What is going to be your net pay price for this contract?
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Given Contracted bushels 2000 bushels Contracted price 385bushel Moisture content 165 ...
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
