$2$

On June $1.$ Cagle Co$.$ received a signed agreement to sell inventory for $650,000.$ The sale would take place in $90$ days Cagle immediately signed a $90-$day forward contract to sell the yen as soon as they are received. The spot rate on June $1$ was $1=$$$0003986,$ and the $90-$day forward rate was $$1=$$$0004021.$ At what amount woutd Cagle record the Forward Contract on June $1?$

Multiple Choice

$$2\mathrm{.}613\mathrm{.}65$

$$0$

$$2,590\mathrm{.}90.$

Multiple Choice

$2$

$$2\mathrm{.}613\mathrm{.}65$

$$0.$

$$2,590\mathrm{.}90.$

$$2,275\mathrm{.}00.$

$$ $$1\mathrm{.}993\mathrm{.}00.$