On December 1, 2007, Crane Corporation agreed to purchase a machine to be manufactured by a company in Germany. The purchase price as 1,200,000…
On December 1, 2007, Crane Corporation agreed to purchase a machine to be manufactured by a company in Germany. The purchase price as 1,200,000 German marks. To hedge against fluctuations in the exchange rate, Crane entered into a forward contract on December 1 to buy 1,200,000 marks on April 1, the agreed date of machine […]


