I am buying merchandise from China that needs to paid for in exactly one year from today. I need to pay the supplier 16 million Chinese Yuan at that time. I found a bank that can guarantee to exchange 16 million Yuan for me next year at the exchange rate of 8 Yuan/dollar. The price they are charging me to write this contract is $100,000. What is the total dollar cost after I purchase this contract from the bank? $2.1 million $2 million $1.8 million $16.1 million