Business, 22.05.2020 03:11, kghmgfxn3292
On December 1, 2018, Keenan Company, a U. S. firm, sold merchandise to Velez Company of Canada for 150,000 Canadian dollars (CAD). Collection of the receivable is due on February 1, 2019. Keenan purchased a foreign currency put option with a strike price of $.97 (U. S.) on December 1, 2018. This foreign currency option is designated as a cash flow hedge. Relevant exchange rates follow:
Date
Spot Rate
Option
Premium
December 1, 2018
$
0.97
$
0.05
December 31, 2018
$
0.95
$
0.04
February 1, 2019
$
0.94
$
0.03
Compute the fair value of the foreign currency option at February 1, 2019. 27) A) $7,500. B) $6,000. C) $3,000. D) $1,500. E) $4,500.
Compute the U. S. dollars received on February 1, 2019. 28) A) $141,000
B) $142,500. C) $136,500. D) $138,000. E) $145,500.
Answers: 1
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On December 1, 2018, Keenan Company, a U. S. firm, sold merchandise to Velez Company of Canada for 1...
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