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On December 1, 2011, Keenan Company, a U.S. firm, sold merchandise to Velez Company of Canada for 150,000 Canadian dollars (CAD) . Collection of the receivable is due on February 1, 2012. Keenan purchased a foreign currency put option with a strike price of $.97 (U.S.) on December 1, 2011. This foreign currency option is designated as a cash flow hedge. Relevant exchange rates follow:
Compute the U.S. dollars received on February 1, 2012.
Botswana
A landlocked country located in Southern Africa, known for its stable political environment, diamond mining industry, and wildlife.
Zimbabwe
A landlocked country located in Southern Africa known for its diverse landscape and wildlife, much of it within parks, reserves, and safari areas.
Optimal Quantity
Refers to the quantity of a good or service that maximizes efficiency or utility, often considered in terms of production or consumption.
Current Price
The present monetary value at which a good or service can be bought or sold.
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