Amount to get after exchanging yen for us dollars

Reference no: EM1310454

Q1) Assume DeGraw Corporation, a U.S. exporter, sold solar heating station to a Japanese customer at a price of= 143.5 million yen, when exchange rate was 140 yen per dollar. To close sale, DeGraw decided to make bill payable in yen, therefore agreeing to take some exchange rate risk for transaction. Terms were net six months. If yen fell against dollar such that 1 dollar would purchase= 154.4 yen when invoice was paid, what dollar amount would DeGraw actually get after it exchanged yen for U.S. dollars?

Reference no: EM1310454

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