A U$.$S$.$ firm has sold an Italian firm $1,000,000$ worth of goods, payable in one year. To hedge, the U$.$S$.$ firm bought a put option on the euro with a strike price of $$1\mathrm{.}65.$ The premium to enter the option was $$0\mathrm{.}01$ per euro. If at maturity, the exchange rate is $$1\mathrm{.}63$ per euro, what is the firm's "minimum" dollar receipt?

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