Use the Following Information to Answer the Question(s) Below

question 39

Multiple Choice

Use the following information to answer the question(s) below.

On October 4, 2014, Sooty Corporation borrowed 250,000 British pounds from a London bank, evidenced by an interest-bearing note payable due in one year. The note was payable in pounds. Exchange rates for pounds were:

-What is the final amount of the loan payable that Sooty repaid?

• A)$250,000
• B)$287,500
• C)$397,500
• D)$402,500

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Definitions:

Lateral Toes

The toes located on the outer sides of the feet, important for balance and supporting walking gait.

Tibialis Anterior

A muscle in the lower leg that dorsiflexes and inverts the foot, playing a key role in walking and balance.

Linea Alba

A fibrous structure that runs down the midline of the abdomen, forming an important anatomical landmark and serving as the attachment for certain abdominal muscles.

Serratus Anterior

A muscle located on the side of the thorax that assists in the upward movement of the arms and stabilizes the scapula.