On July 1, 2020, CANCO purchased inventory from its main US supplier, RNB Enterprises, at a cost of US$12,000 CANCO's year end is on July 31. Payment of US$12,000 for the inventory is due on August 31, 2020 Some important dates regarding this transaction, as well as the exchange rates in effect at each of these dates are shown below. Transaction date: July 1, 2020 Year end: July 31, 2020: Settlement date: August 31, 2020 1 U.S. Dollar = CON$1.370 1 US Dollar = CON$1.345 1 U.S. Dollar = CON$1325 What was the amount in Canadian dollars paid by CANCO to RNB on the settlement date? Multiple Choice CDN$15,900 O CDN$16,440 O CDN$16,140 CDN$12,000