You work for J.P. Morgan Chase, a large U.S. bank. One of your customers in Mexico is Becle S.A.B. de C.V., the largest producer of tequila in the world. Becle has recently made a major sale of tequila to a Canadian grocery chain, Loblaw Cos. Becle needs to convert its receipt of 2.3 million Canadian dollars (CAD) from Loblaw into Mexican pesos. Your banks foreign exchange desk provides the following bid-ask quotes spot against the US dollar (USD):

Mexican peso spot (MXP per USD) 20.5010 20.5018

Canadian dollar spot (CAD per USD) 1.2680 1.2683

At these quotes, what price would you give to your client, the Mexican company who wishes to sell Canadian dollars to the bank? How much has the Mexican company agreed to receive? Show your calculations.