(Answered) Bonjur inc imports french cheeses for distribution in the

Finance

Bonjur, Inc. imports French cheeses for distribution in the US. On April 1, the company purchased cheese costing 400,000 euros. Payment is due in euros on July 1. The spot rate on April 1 was $1.20 per euro, and on July 1, it was $1.25 per euro.

(a) How much would Bonjur have to pay in dollars for the purchase if it paid on April 1?

(b) How much would Bonjur have to pay in dollars for the purchase if it paid on July 1?

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