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Mount Olive
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On November 1, Able Corporation purchased a six-month insurance policy for the Baylor Agency for $3000.
Assume that American rice sells for $100 per bushel, Japanese rice sells for 16,000 yen per bushel, and the exchange rate is 80 yen per 1 dollar. Explain how you can make a profit in this situation. What would be your profit per bushel of rice?
