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A US company is due to make a payment of 1.5m Euros in 6 months. The spot exchange rate for EUR-USD is 1.0752, and the

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A US company is due to make a payment of 1.5m Euros in 6 months. The spot exchange rate for EUR-USD is 1.0752, and the 6 month forward exchange rate is 1.08532. This exchange rate is expressed as the number of USD for 1 EUR. What is the present value of the payment expressed in USD? Assume that the risk-free rate in USD is rUSD=5.0% for all maturities

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