Mr. Fulton, a collector based in the United States, just sold one of his Stradivarius violins to a German buyer for 10,000,000, payable in six months. The current spot exchange rate is $1.05/ and the six-month forward exchange rate is $1.10/. Mr. Fulton can buy a six-month put option on euros with a strike price of $1.08/ for a premium of $0.01 per euro. Currently, the six-month euro interest rate is 4% per annum and the six-month USD interest rate is 5% per annum.

If Mr. Fulton hedges his euro receivables with a money market hedge, how much is he expected to receive in USD in six months?