On September 1, 2020 Mertz Co. (a U.S.-based company) receives an order from a Brazilean customer to deliver goods on January 31, 2021, for a price of 200,000 Brazilean reals. Mertz enters into a forward contract on September 1, 2020 to sell 200,000 reals on January 31, 2021. $ exchange rates per real follow. Date Spot Rate Forward Rate (to January 31, 2021) September 1, 2020 $0.250 $0.290 December 31, 2020 0.285 0.308 January 31, 2021 0.320 0.320 At what dollar amount will the Firm Commitment be recorded on September 1, 2020? Multiple Choice $58,000 $0 $50,000 $61,600