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On February 1, Synergy Import-Export Company sells merchandise to Japanese firms costing 90,000 yen. Payment will be made in Japanese yen on May 1. The

On February 1, Synergy Import-Export Company sells merchandise to Japanese firms costing 90,000 yen. Payment will be made in Japanese yen on May 1. The exchange rates of yen for $1 were as follows:

February 1 $1 = 111.23
May 1 $1 = 109.25

Calculate the dollar value of the amount paid in yen on May 1. (Note: Round answer to the nearest cent.)

a.$857.33

b.$823.80

c.$900.26

d.$500.34

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