Compute the mark-to-market value of the following short forward NZD (New Zealand Dollar) contract. The size of contract is NZD 5,000,000 and the forward rate is F₄^USD/NZD = 0.79; the spot rate at time of the valuation (today) is X_N^USD/NZD = 0.71. The NZD and USD interest rates are: r^NZD = 8% and r^USD = 2%; assume the contract matures in four years from now (so at t=4).

Group of answer choices

USD 1,489,400.00

USD 1,780,654.10

USD 1,039,833.46

USD 1,145,362.55