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Explain the business in terms of us

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Let's suppose you (USA dealer) imported one Earth Equipment machine from Italian dealer on March 1, 2017 at € 300,000 each, payable in 30 days. The exchange rate on March 1, 2017 was 1.16 US$/€. Then you sold the machine in the US market at US$350,000 in cash on March 29, 2017. On April 1, 2017, you paid to Italian car dealer at the exchange rate of 1.08 US$/€. What was profit or loss from this business in terms of US$? (Please assume all costs are included in price.)

Reference no: EM133091909

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