On April 15, Year 5, Bailey Inc. negotiated a large sale of their premium maple syrup to Sweet Co. for US$3,000,000. The contract required payment in three years from the date of delivery of the goods. Bailey delivered the goods on July 15, Year 5. The company has a December 31 year-end. The exchange rates at various dates are given below. Spot rates US$1 = CON$1.28 US$1- CDN$1.30 US$1 - CONS1.42 Forward rates US$1 = CDNS1.22 April 15, Year 5 July 15, Year 5 December 31, Year 5 US$1 CDN$1.20 US$1 = CON$1.25 Assuming the transaction is not hedged, which of the following amounts will be used to record the receivable in Bailey's books at July 15, Year 5? Multiple Choice $4.260.000