Assume That an Importer Were to Purchase 5000 Cases of Premium

Assume that an importer were to purchase 5000 cases of premium escargot for 700,000 euro.Further assume that the quoted exchange rates are as follows: spot rate = .9542 euro to the US dollar; 30-day forward rate = .9502 euro to the US dollar; and 90-day forward rate = .9498 euro to the US dollar.If the actual currency exchange rate at the time payment is due in 90 days is equal to the forward rate of .778 euro to the US dollar, how much would the escargot cost the importer in US dollars if payment is made in 90 days? Round to the nearest dollar.

A) $949,800
B) $664,860
C) $105,285
D) $736,997