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Question: Citibank holds $23 million in foreign exchange assets and $18 million in foreign exchange liabilities. Citibank also conducted foreign currency trading activity in which it bought $5 million in foreign exchange contracts and sold $12 million in foreign exchange contracts.
a. What is Citibank's net foreign assets?
b. What is Citibank's net foreign exchange bought?
c. What is Citibank's net foreign exposure?
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