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On July 15, 2021, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month forward contract to

On July 15, 2021, you convert 500,000 U.S. dollars to Japanese yen in the spot foreign exchange market and purchase a six-month forward contract to convert yen into dollars. How much will you receive in U.S. dollars at the end of six months? (spot exchange rate is 106.23 yen per dollar, six-month forward rate is $0.0095520/1) (Do not round intermediate calculations. Input your final answer as a dollar amount rounded to two decimals i.e. $123,456.78)

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