Assume a U

question 21

Multiple Choice

Assume a U.S.-based subsidiary wants to raise $1 million by issuing a bond denominated in Pakistani rupees (PKR) . The current exchange rate of the rupee is $.02. Thus, the MNC needs ____ rupees to obtain the $1 million needed.

• A)50,000,000
• B)20,000
• C)1,000,000
• D)none of the above

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