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Company purchases goods from a japanese company

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A U.S. company purchases goods from a Japanese company for 10 million yen. The current spot rate is $1 = ¥87. The 60-day forward rate is $1 = ¥96. What is the dollar difference between what the company would pay now and what it would pay in 60 days (assume the forward rate becomes the spot rate in 60 days)?

1. $114,943
2. $10,776
3. $104,167
4. $10,250
5. None of the above 

Reference no: EM13971105

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