On May $1,20$X$4,$ Deerfield Corporation purchased merchandise from a German firm for $78,000$ euros when the spot rate for

the euro was $1\mathrm{.}48$ euro per dollar. The account payable was denominated in the euro. Deerfield settled the account on August

$1$ when the spot rate for the euro was $1\mathrm{.}39$ euro per dollar. How much cash will Deerfield have to disburse to settle the

account?

Select one:

a$.$ $$52,702\mathrm{.}72$

b$.$ $$56,115\mathrm{.}11$

c$.$ $$108,420\mathrm{.}00$

d$.$ $$115,440\mathrm{.}00$