A U.S. company sells products to a Dutch company and will receive payment of €550,000 in three months. At the time of sale, the spot rate of the euro was $1.25, and the 90-day forward rate was $1.21. At the time of sale, the U.S. company negotiated a forward contract with a bank to sell €550,000 forward in three months. The spot rate of the euro on 9/1 is $1.28. What amount in $ will the US Company receive?
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