On May 1, 2017, Avery Corporation purchased merchandise from a Danish firm for 198,000 Danish krone when the spot rate for krone was 5.200 krone per dollar. The account payable was denominated in krone. Avery settled the account on September 1 when the spot rate for krone was 5.345 krone per dollar. How much cash will Avery have to disburse to settle the account?

$37,044.

$38,077.

$1,029,600.

$1,058,310.