7. On March 27, 2005, a U.S. multinational enterprise purchased merchandise on 30-day credit terms from a Philippines exporter at an invoice cost of =p 80,000. (=p is the symbol of the Philippine peso.) What U.S. dollar amount does the U.S. enterprise credit to Trade Accounts Payable if the March 27, 2005, spot rates for the Philippine peso are as follows?

Buying rate: =p Selling rate: =p