Lawrence company, a u. s. company, ordered parts costing 1,000,000 thailand bahts from a foreign supplier on july 7 when the spot rate was $.025 per baht. a one-month forward contract was signed on that date to purchase 1,000,000 bahts at a rate of $.027. the forward contract is properly designated as a fair value hedge of the 1,000,000 baht firm commitment. on august 7, when the parts are received, the spot rate is $.028. what is the amount of accounts payable that will be paid at this date

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.