Staples Inc exported new products to Hong Kong and has receivables. Use the following information for Staples Inc to calculate how much it will receive in U.S dollars from its exports using a forward contract. About HK dollar 9,237,875.29 will be received in one-year. Assume that the one-year interest rates are 9% and 2% in the U.S. and Hong Kong respectively. Further, the spot rate and one-year forward rate for HK dollar are $0.12990 and $0.14289.

Select one:

a. $1,437,480.00

b. none of the answers is correct

c. $1,320,000.00

d. $1,293,732.00

e. $1,306,800.00