Baljit, Inc. purchased machinery from a Japanese firm and will have to pay ¥278.45 million in 90 days. The bank quotes a forward rate of ¥105.46/$ to buy the required yen. What is the cost to Baljit in U.S. dollars? (Round your final answer to the nearest dollar.)
A) $2,640,338
B) $2,784,500
C) $2,936,534
D) $2,714,300
Correct Answer:
Verified
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