Banks provide means of payment for international trade. Fig. 5.1 shows a letter of credit. $12000 LETTER OF CREDIT Applicant: AA Ltd, Freetown, Sierra Leone Issuing bank: XX Bank, Freetown, Sierra Leone Beneficiary: BB Ltd, New York, USA Receiving bank: ZZ Bank, New York, USA Date of application: 18 July 2021 The letter of credit can be drawn from the Brooklyn branch of the ZZ bank as long as you provide the following two documents: (i) (ii) Fig. 5.1 letter of credit Use Fig. 5.1 to help you answer the following questions.