An American firm has a receivable of 5,000,000 payable in one year. The current spot rate is $1.1000/. A European bank is payins 3.00% on deposits or will lend at 6.50%. A U.S. bank is paying 5.00% or will lend at 7.00%. How much does the firm need to borrow today to begin a money market hedge? \begin{tabular}{|c|} \hline 64,854,369 \\ \hline 64,694,836 \\ $5,164,319 \\ $5,339,806 \\ \hline \end{tabular}