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An American investment trust will receive SGD 18,000. If the bid-ask rates for USD provided by a Singaporean bank are SGD 1.393 - 1.5266. How

An American investment trust will receive SGD 18,000. If the bid-ask rates for USD provided by a Singaporean bank are SGD 1.393 - 1.5266. How much U.S. dollars will the investment trust receive?

a. 12,921.75

b. 27,478.80

c. 25,074.00

d. 11,790.91

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