XYZ Corp is expecting payment from a foreign customer for 30,000 British Pounds 60 days from now. British pound has been fluctuating a lot so they decided to hedge their position by selling British Pounds forward. The current spot rate of the pound is $1.60, while the forward rate is $1.65. You expect the spot rate in 60 days to be $1.55. How many dollars will you receive for the 30,000 pounds 60 days from now if you sell pounds forward?

$49,500

$48,000

$48,500

$46,500

$47,500