On November 1, 2023, a U.S. company invests in a forward sale contract for delivery of 1,000,000 Singapore dollars (S$) at $0.735/S$ on February 1, 2024. The spot rate on November 1 is $0.74/5$. At December 31, the end of the accounting year, the forward contract is still outstanding. The year-end spot rate is $0.755. The year-end forward rate for February 1 delivery of Singapore dollars is $0.75. How is the forward contract reported on the U.S. company's year-end balance sheet? Select one: a. $15,000 liability b. $13,000 asset Oc. $10,000 liability d. $20,000 asset