While the 3-month forward rate for US dollar is C$1.2991 per USD, the spot rate is US$0.7706 per C$. According to a forward contract, how much C$ will be needed to settle a payment of US$1,000,000 in three months?
A) $1,297,690
B) $1,299,100
C) $770,600
D) $769,765
E) Insufficient information
Correct Answer:
Verified
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