Exxon oil corp is negotiating the purchase of 1 million, Ask an Expert

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Exxon Oil Corp. is negotiating the purchase of 1 million barrels of oil from a bankrupt competitor to be delivered and paid for in exactly 1 year. The oil exporter wants the contract expressed in Mexican Pesos, and the current "in USD" Peso exchange rate is $0.071. The contract is signed at a price of 1445 Pesos per barrel. How many US Dollars will Exxon be wrose off if at the time of oil delivery the "in USD" Peso exchange rate changes to $0.076? $

Note: Round your answer rounded to the closest $USD.

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Financial Management, Finance

Category:- Financial Management
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