On October $20,2021,$ our company enters into a speculative forward contract with an exchange broker. The contract obligates our company to buy $636,000$ on January $20,2022,$ while we lock in the $ US we will pay for the Euros on that date at the forward rate of $$1\mathrm{.}44$:$1($i$.$e$.,$ the forward rate on October $20,2021,$ for settlement on January $20,2022).$ The following table includes the spot rates and forward rates on October $20,2021,$ December $31,2021,$ and January $20,2022.$

$\backslash$table$[[$Date$,\backslash$table$[[$Spot Rate$],[($$US $=1$ EUR$)]],\backslash$table$[[$Forward Rate$],[($$US $=1$ EUR$)]]],[20-$Oct$-21,$$$1\mathrm{.}47,$$$1\mathrm{.}44$