Crescent corporations recent sale to a firm in mexico, Finance Basics

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Crescent corporations recent sale to a firm in mexico

Question: Crescent Corporation's recent sale to a firm in Mexico produced revenues of 14,644,000 Mexican pesos (MPs). If the firm sold the pesos to its bank and was credited with $1,624,696.70, what was the spot rate at which the pesos were converted? (Round answer to 4 decimal places, e.g. 15.2500.)

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Finance Basics: Crescent corporations recent sale to a firm in mexico

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