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George and Dury Co must pay a French supplier 35,000 euros in one month's time. Given the following exchange rates being quoted by the company's bank, what would be the cost of the payment in dollars if the company were to arrange a one month forward exchange contract? Euros – $ rates: Spot 9.22 1/4 – 9.23 1/4 1 month forward 4 1/2 c dis – 4 3/4 c dis A. $3,776.64 B. $3,810.56 C. $3,771.55 D. $3,813.67 |