A firm in Canada receives an order and plans to ship manufacturing equipment to a customer in the U.S. in three months. The customer has agreed to pay $12,500,000 for the equipment. This is a big order for the firm, but they are concerned about currency fluctuations, so the company locks in a rate with a forward. Given the current market quotes below for spot/forward dollar, how many Canadian dollars (CAD) will the company receive? Ask 1.2891 0.48 USDCAD Bid Spot 1.2889 1-week forward points 0.26 1-month forward points 0.28 2-month forward points 2.18 3-month forward points 4.34 0.60 2.68 5.06 CAD16,113,975 CAD16,116,675 CAD16,118,450 CAD16,124,775