An importer in the US has 50,000 euros payable in one year. She would like to use a money market hedge rather than use a forward contract. The spot exchange rate is $1.20 per euro. The interest rate in the US is 4.5% and the interest rate in Europe is 3%. How much will she need in dollars today to create a money market hedge? [Please note the answer should be in todays dollars.]

Group of answer choices

$58,252

$56,125

$59,187

$57,569