Plummer Tech Is a U

Plummer Tech is a U.S. multinational that just purchased C$800,000 of goods on account, due in 30 days from a Canadian supplier. The spot exchange rate is $0.793/C$. Plummer wants to hedge the account payable with an OTC call option with a strike price of $0.800/C$. The option premium is 0.50 percent, and the 30-day periodic rate in the U.S. is 0.40 percent. If the spot exchange rate in 30 days is $0.776/C$, what is the total cost of the account payable (including the cost of the option) ?

A) $623,984.69
B) $637,584.69
C) $643,184.69
D) $662,484.69
E) $663,424.69