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An EUR 100 million 7-year forward against the USD is quoted as $1.3200 - 75. If the spot exchange rate is $1.19/EUR and the 7-year

An EUR 100 million 7-year forward against the USD is quoted as $1.3200 - 75. If the spot exchange rate is $1.19/EUR and the 7-year euro interest rate is 1%, the net present value of this bid/ask spread is closest to:

A. EUR 587,848

B. EUR 630,252

C. EUR 675,715

D. EUR 750,000

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