The Sheepskin Factory in New Zealand exported sheepskin coats worth a million Japanese yen (JPY) to Japan on April 24, 2015 when the exchange rate was 90.3770 JPY/NZD and receives the payment on July 23, 2015 when the exchange rate had dropped to 81.9177 JPY/NZD. How much of a loss in NZD will The Sheepskin Factory perceive compared with the shipment date?

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