19) TropiKana Inc., a U.S firm, has just borrowed euro 1,000,000 to make improvements to an Italian fruit plantation and processing plant. If the interest rate is 5.50% per year and the Euro depreciates against the dollar from $1.45/ at the time the loan was made to $1.40/ at the end of the first year, how much interest will TropiKana pay at the end of the first year (rounded)?

A) $55,000

B) $79,750

C) $77,000

D) $37,931