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Question - Suppose that you are a U.S.-based importer of goods from the United Kingdom. You expect the value of the pound to increase against the U.S. dollar over the next 60 days. You will be making payment on a shipment of imported goods in 60 days and want to hedge your currency exposure. The U.S. risk-free rate is 2.5 percent, and the U.K. risk-free rate is 2 percent. These rates are expected to remain unchanged over the next 2 months. The current spot rate is $1.3077. Calculate the no-arbitrage price at which you could enter into a forward contract that expires in 60 days.
Currently, the GBP/USD rate is 1.5046 and the six-month forward exchange rate is 1.5287. The six-month interest rate is 6.6% per annum in the U.S. and 6% per annum in the U.K. Assume that you can borrow £1,000,000 or its equivalent in USD. How much do you make/lose if you borrow the local currency and invest abroad? (USD, no cents)
Who is responsible for the fair presentation, in all material respects, of the amounts and disclosures included in the financial statements in conformity
the fashion shoe company operates a chain of womens shoe shops around the country. the shops carry many styles of shoes
How much should be recognized as cost of the new machine? Cash allowance granted because the new machine proved to be of inferior quality 100,000
Net income was P150,000 in 2018 and P180,000 in 2019. Each partner withdrew P1,000 for personal use every month. Allocate the net income to the partners
On January 1, 2017, Kingbird Co. leased a building to Oriole Inc. Prepare the journal entries that Oriole Inc. should make in 2017
Classification at costs, merchandising sector Home Entertainment Center (HEC) operates a large store in San Francisco. The store has both a video section and a music section
Cash, noncash assets, and liabilities total $56,000, $96,000, and $32,000, respectively. How would structure a statement of liquidation
Jurassic Park sells only one product, plastic dinosaurs, at a regular price of $36.90 per unit. Variable expenses are 58% of sales and fixed expenses.
The payroll register of Ruggerio Co. indicates $10,500 of social security withheld, Make the journal entry for the period payroll
This period's wages and other operating expenses total $112,000. Beginning-of-period prepaid expenses totaled $1,200, and its ending balance is $4,200.
How did the Philippine controller successfully perpetrate his fraudulent activity? Analyse the case from the point of segregation of duties
What is the responsibility of Internal Audit in reference to Governance and Risk Management as detailed in the IIA Standards
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