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What was the spot rate at which the pesos were converted

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Reference no: EM132500082

Question 1: Sheridan Corporation's recent sale to a firm in Mexico produced revenues of 14,130,000 Mexican pesos (MPs). If the firm sold the pesos to its bank and was credited with $974,970.00, what was the spot rate at which the pesos were converted? (Round answer to 4 decimal places, e.g. 15.2578.)

Question 2: If the spot rate was $1.0215/C$ and the 90-day forward rate was $1.0305/C$, how much more (in U.S. dollars) would you receive by selling C$1,642,000 at the forward rate than at the spot rate?

Question 3: Carla Vista, Inc., sold equipment to an Irish firm and will receive €1,301,100 in 30 days. If the company entered a forward contract to sell at the 30-day forward rate of $1.3545/€, what is the dollar revenue received? (Round answer to 2 decimal places, e.g. 15.25.)

Question 4: Carla Vista, Inc., sold equipment to an Irish firm and will receive €1,301,100 in 30 days. If the company entered a forward contract to sell at the 30-day forward rate of $1.3545/€, what is the dollar revenue received? (Round answer to 2 decimal places, e.g. 15.25.)

Question 5: Cullumber Autos has contracted with an Indian software firm for design software. The payment of 28,000,000 rupees (Rs) is due in 30 days. What is the cost in dollars if the 30-day forward rate is Rs70.00/$. (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM132500082

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