At the close of business on December 31, 2019 Tempest Corp pays a $80,000 premium...
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At the close of business on December 31, 2019 Tempest Corp pays a $80,000 premium to purchase a foreign currency option giving Tempest the right but not the obligation to purchase 100,000 euros and sell $130,000 US dollars in six months as a hedge of a future euro rental obligation. What is reported on the balance sheet at December 31, 2019 (in US dollars) At the close of business on December 31, 2019 Tempest Corp pays a $80,000
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