On August 1, 2019, when the spot rate was US$1 - C$102, Avery Corporation of Winnipeg, Manitoba, ordered equipment from an American supplier for US$250,000. Delivery was scheduled for the month of September, with payment in full on delivery Upon placing the order, Avery immediately entered into a forward contract with its bank to purchase US$250,000 on September 15, 2019 at the forward rate of US$ = C$1.01. The equipment was received on September 15, 2019, when the spot rate was USS = C$0.99 Assume that the transaction was not hedged. Which of the following is the cost of the equipment in the September 30, 2019 financial statements? Multiple Choice O $250,000 o $255,000 Multiple Choice $250,000 $255,000 $252.500 $247,500