Question: ( 6 points ) IBM US Commercial Computer Operations sold a state - of - the - art mainframe computer system to the Institute of
points IBM US Commercial Computer Operations sold a stateoftheart mainframe computer system to the Institute of Molecular Pathology and Immunology of the University of Porto in Portugal on credit and invoiced million payable in six months. Currently, the sixmonth forward exchange rate is $ and the Treasury Department's foreign exchange analyst for IBM predicts that the spot rate is likely to be $ in six months.
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