Question: On March 1 , QRS , a U . S . Company, sold inventory to a German supplier for 1 0 0 , 0 0

On March 1, QRS, a U.S. Company, sold inventory to a German supplier for 100,000 euros to be paid on May 31. Assume the following exchange rates:
$1.2979, March 1 spot rate
$1.3110, forward rate quoted on March 1 for delivery on May 31
$1.2987, spot rate on March 31
$1.3123, forward rate quoted on March 31 for delivery on May 31
$1.3118, spot rate on May 31

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