An agreement is reached for an American company to purchase a machine from a foreign vendor for 100,000 euros. At the time of the agreement, the exchange rate is 1.20 dollars per euro. At the time of the transaction, the exchange rate has changed to 1.10 dollars per euro. What is the net effect of this change in exchange rate for the American company?

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The change in exchange rate benefits the American company res... View the full answer