Question: Question 1 2 points A U.S. exporter sells $150,000 of furniture to a Latin American importer. The exporter requires the importer to obtain a letter

Question 1 2 points A U.S. exporter sells $150,000 of furniture to a Latin American importer. The exporter requires the importer to obtain a letter of credit. When the bank accepts the draft the exporter discounts the 120 day note at a 5.25% discount. What is the exporter's true effective annual financing cost? A 5.34% 3.5.25% C.5.29% 0.5.52% 1.5.42%

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