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One of the world's largest airlines, Japan Airlines (JAL), is also one of the best...

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Finance

One of the world's largest airlines, Japan Airlines (JAL), is also one of the best customers of Boeing. When purchasing Boeing aircraft, JAL must change its yen into dollars to pay Boeing.

In 1990, JAL entered into 10 years contract with its bank to purchase dollars at 185 /$. If the rate was 122 /$ by the end of the 10-year term, JAL would be paying ______ percent more than it needed to for each Boeing aircraft bought with dollars purchased via the forward exchange contract.

A) 51.64

B) 75.38

C) 49.32

D) 67.32

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