Use the following information on the U.S. dollar value of the euro to answer the question.

	Spot Rate	Forward Rate for March 16, 2024 Delivery
November 16, 2023	$ 1.15	$ 1.148
December 31, 2023	1.14	1.135
March 16, 2024	1.13	1.130

33. On November 16, 2023, a U.S. company makes a sale to a customer in Germany. Under the sale terms, the customer will pay the company 100,000 on March 16. On November 16, the company also enters a forward contract to sell 100,000 on March 16, 2024. On March 16, the company receives 100,000 from the customer and sells it using the forward contract. The companys accounting year ends December 31. At what amount will the company report sales revenue on its 2023 income statement?

Select one:

a. $114,800

b. $113,500

c. $114,000

d. $115,000