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On November 1 , 2 0 8 , Perry Co . purchased 1 0 0 , 0 0 0 FCU of inventory. Payment is due

On November 1,208, Perry Co. purchased 100,000 FCU of inventory. Payment is due January 31,20x9. In order to hedge the foreign purchase, Perry Co. also entered in to a forward contract on November 1,208 to purchase 100,000 FCU on January 31,20x9. Perry Co. has a December 31st year-end.
The spot rates during this period were as follows:
Date
November 1,208
December 15,20x8
December 31,208
January 31,209
Spot rate
$1.27C$=1FCU
$1.33CS=1FCU
$1.40CS=1FCU
$1.38C$=1FCU
Forward rates for settlement on January 31,209 during this period were as follows:
Date
November 1,20x8
December 15,20x 8
December 31,208
Forward rate
$1.30CS=1FCU
$1.35C$=1FCU
$1.43C$=1FCU
On December 31,20x8, at what value will the forward contract asset be recorded on Perry Co.'s balance sheet?
Round to the nearest dollar, no $ signs, negative signs, commas or periods.
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