A US importer is concerned about the appreciation of EUR against USD due to EUR payables of EUR 100,000,000 in three months. To hedge the position, importer decides to use an OTC (over the counter) call option on EUR with a strike price of EUR/USD 1.1500 at 2% premium At the time the option is purchased, the spot rate was USD1.1475. On the day the option expires EUR/USD spot rate is 1.1600. Calculate the effective amount of USD the company will pay for its 100m EUR payable? Assume that importer's cost of capital is 10%. [Calculate the time value of the option premium; round your final figure into integers] USD118,659,232USD111,500,000USD115,635,078