Levi Corporation (a U. S. company) has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the country in which the foreign entity is located. On December 2, 20X1, Levi sold confectionary items to a foreign company at a price of 50,000 yen when the direct exchange rate was 1 yen = $1.12. The foreign exchange gain or loss on Levi's records at year-end for this transaction will be: a. No gain or loss is reported.
b. $1,500 loss
c. $1,500 gain

The management of a supermarket wants to adopt a new promotional policy of giving a free gift to every customer who spends > a certain amount per visit at this supermarket. the expectation of the management is that after this promotional policy is advertised, the expenditures for all customers at this supermarket will be normally distributed with a mean of $95 and a standard deviation of $20. if the management wants to give free gifts to at most 10% of the customers, what should the amount be above which a customer would receive a free gift?