Problem 21.27 Wildhorse Pharma just received revenues of $3,166,600 in Australian dollars (A$). Management has the...

Problem 21.27 Wildhorse Pharma just received revenues of $3,166,600 in Australian dollars (A$). Management has the following exchange rates: A$2.69500/£ and $1.5906/£. What is the U.S. dollar value of the company’s revenues? (Round intermediate calculation to 4 decimal places, e.g. 15.2578 and final answer to the nearest whole dollar, e.g. 5,275.) Revenue $

Expert Solution

Received Revenues = $3,166,600

Exchange rate = A$2.69500 / £ and $1.5906 / £

Exchange rate between $ and A$ = ($1.5906 / £) / (AS$2.69500 / £)

= $0.590204 / A$

= $0.5902 / A$

U.S.dollar value of the company revenues = Received Revenues * Exchange rate

= A$3,166,600 * $0.5902 / A$

= $1,868,927.32

U.S. dollar revenue is $1,868,927.

jeff jeffy answered 2 years ago

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