IMXP Corp. enters into a 30-day forward exchange contract to buy 113,540,000 yen for $100,000. Which of the following statements is true concerning this transaction?

Select one:

a. IMXP will receive 113,540,000 yen today and pay $100,000 30 days from now.

b. IMXP will pay $100,000 today and receive 113,540,000 yen 30 days from now.c. IMXP will pay $100,000 and receive 113,540,000 yen 30 days from now.d. The spot exchange rate in 30 days will be 113.54 yen per dollar.