Maltese$$ Falcon: The Black Bird. Imagine that the mythical solid gold$$ falcon, initially intended as a tribute by the Knights of Malta to the King of Spain in appreciation for his gift of the island of Malta to the order in$1530,$ has recently been recovered. The falcon is $14$ inches high and solid$$ gold, weighing approximately $48$ pounds. Assume that gold prices have risen to $$$$445/$ounce$,$ primarily as a result of increasing political tensions. The falcon is currently held by a private investor in$$ Istanbul, who is actively negotiating with the Maltese government on its purchase and prospective return to its island home. The sale and payment are to take place one year from$$ now, and the parties are negotiating over the price and currency of payment. The investor has$$ decided, in a show of$$ goodwill, to base the sales price only on the$$ falcon's specie valuelong dashits gold value. The current spot exchange rate is $0\mathrm{.}3905$ Maltese lira$($ML$)$ per $1\mathrm{.}00$ U$.$S$.$ dollar. Maltese inflation is expected to be about $8\mathrm{.}498\%$ for the coming$$ year, while U$.$S$.$ inflation, on the heels of a$$ double$-$dip recession, is expected to come in at only $1\mathrm{.}502\%.$If the investor bases value in the U$.$S$.$ dollar, would he be better off receiving Maltese lira in one year$($assuming purchasing power$$ parity$),$ or receiving a guaranteed dollar payment$($assuming a gold price of $$$$423$ per ounce one year from$$ now$)?$

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Part $1$

If the investor bases his gross sales proceeds in U$.$S$.$ dollars, the guaranteed dollar payment yields $$$

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enter your response here. $($Round to the nearest$$ cent.$)$