SRL for [understated]: The Commerce Department found that U.S. exports in 1988 , net of imports , were [understated] at the annualized rate of $ 25.4 billion in the first quarter of 1989 .
ARG-1: U.S. exports in 1988 , net of imports | ARG-2: at the annualized rate of $ 25.4 billion | ARG-M-TMP: in the first quarter of 1989