You Firm Needs to Pay Its British Supplier £1,000,000

question 22

Multiple Choice

You firm needs to pay its British supplier £1,000,000. If the exchange rate is $1.61/ £, how many dollars will you need to pay the British supplier?

• A) $1,610,000
• B) $621,118
• C) $385,787
• D) $1,000,000