A Mexican company has an account receivable maturing in 24 months in dollars equivalent to...
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Accounting
A Mexican company has an account receivable maturing in 24 months in dollars equivalent to $800,000. Due to the exchange fluctuation of the Mexican peso with respect to the dollar, the financial administrator has thought of covering himself on the exchange rate, so he asks for your advice and that you answer the following:
-If the forward exchange rate offered by a financial institution is $20.15 MXP/USD, how much will the company receive in 24 months?
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