Question: 20) Let's suppose you (USA dealer) imported one Earth Equipment machine from Italiandealer on March 1, 2017 at 300,000 each, payable in 30 days. The

20) Let's suppose you (USA dealer) imported one Earth Equipment machine from Italiandealer on March 1, 2017 at 300,000 each, payable in 30 days. The exchange rate on March 1, 2017 was 1.16 US$/. Then you sold the machine in the US market at US$350,000 in cash on March 29, 2017. On April 1, 2017, you paid to Italian car dealer at the exchange rate of 1.08 US$/.What was profit or loss from this business in terms of US$?(Please assume all costs are included in price.)

41000

26000

39000

13000

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