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ZeeJay, Inc., a U.S. company, sells a line of nightstands both in the United States and to foreign distributors. On December 3, a Spanish distributor,
ZeeJay, Inc., a U.S. company, sells a line of nightstands both in the United States and to foreign distributors. On December 3, a Spanish distributor, orders 200 nightstands at a price of $750 per nightstand to be delivered immediately and to be paid, in euros, on February 3. The selling price, in euros, is computed using the exchange rate in effect on December 3. December 3 spot rate of euros for $1: $1 = 0.895 February 3 forward rate of euros for $1: $1 = 0.899 What is the difference between what ZeeJay expects to receive when the sale is made (on December 3) and what it actually receives on February 3 (rounded to the nearest whole dollar)
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