iMap Inc. is an American based company that will receive 4,522,000 Brazilian reals (BRL) in 3 months. Due to a lack of trading activity of the BRL forward, the company negotiated a non-deliverable forward (NDF) contract with its bank using the spot rate quoted by the Brazil central bank as the reference rate. At the inception of the NDF contract, the reference rate was USD 0.2673/BRL. If the spot rate quoted by the Brazil central bank in three months' time is USD 0.2823/ BRL, then iMap Inc. will ______USD______.

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iMap Incs Gain or Loss in USD with the NDF Contract Scenario iMap Increceives 4522000 BRL in 3 ... View the full answer