TJ Max, Inc., a U.S.-based MNC, will need 30 million Thai baht on June 25. It is now March 25. TJ Max has negotiated a non-deliverable forward contract with its bank. The reference rate is the baht's closing exchange rate (in $) quoted by Thailand's central bank in 90 days. The baht's spot rate today is $.023. If the rate quoted by Thailand's central bank on June 25 is $.020, Procter & Gamble will ____ $____. (Points : 3.5)

- pay; 9,000 -be paid; 9,000 -pay; 90,000 -be paid; 90,000