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You are a U.S. investor who is trying to calculate the present value (PV) of £5 million cash inflow that will occur one year in the future. The spot exchange rate is S = $1.8839/£ and the forward rate is F1 = $1.8862/£. The appropriate dollar discount rate for this cash flow is 5.32% and the appropriate £ discount rate is 5.24%.
-The present value (PV) of the £5 million cash inflow computed by first discounting the £s and then converting into dollars is closest to ________.
Unconditioned Response
A natural, unlearned reaction to an unconditioned stimulus that occurs without previous conditioning.
Conditioned Reflex
A learned response to a previously neutral stimulus, achieved through repeated pairings with an unconditioned stimulus.
Conditioned Response
A learned response to a previously neutral stimulus that has been consistently associated with an unconditioned stimulus.
Primary Reinforcer
A reinforcer that fulfills a basic physical need for survival and does not depend on learning.
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