A company, exports products to an Italian firm and will receive payment of 300,000 in three months. On June 1, the spot rate of the euro was $1.20, and the 3-month forward rate was $1.15. On June 1, Greensboro negotiated a forward contract with a bank to sell 300,000 forward in three months. The spot rate of the euro on September 1 is $1.10. Greensboro will receive $__ for the euros.

Select one:

a. 330,000

b. 345,000

c. 348,000

d. None of above