Donald has 450,000 to speculate with. Suppose, the spot rate on the Swiss franc is 0.50/Fr, while the 30-day forward rate is 0.5145/Fr. If Donald believes the franc will continue to rise in value against the euro, so that the spot rate would be 0.5522/Fr at the end of 30 days, how much profit can he generate speculating using the forward contract?

a.32,973.76

b.16,965.00

c.46,980.00

d.30,722.56

Clear my choice