A U.S. company purchases a 90-day certificate of deposit from a Singapore bank on May 15, when the spot rate is $0.72/S$. The certificate has a face value of S$100,000 and pays interest at an annual rate of 2 percent. On August 13, the certificate of deposit matures, and the company receives principal and interest of S$100,500 and records interest revenue on the investment. The spot rate on August 13 is $0.75/S$. The average spot rate for the period May 15 – August 13 is $0.73/S$. The company's accounting year ends December 31.

Interest income on the investment is reported at:

	A.	$360
	B.	$365
	C.	$500
	D.	$375

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