答案为什么不是C

问题如下：

An investor purchases 1 million Canadian Dollars (CAD) for delivery against the Euro in nine months at an all-in forward rate of of 1.4301 (EUR/CAD). Three months later, the bid-offer quotes for spot and forward points six months prior to the settlement date are as follows:

Note: EUR/CAD is the amount of EUR per 1 CAD.

If the investor wants to close out his position today, the mark-to-market value of the original forward contract is closest to:

选项：

A.EUR –24,099 B.EUR –23,805 C.EUR –4,840

解释：

Correct because to determine the mark-to-market value, first calculate the sale of the base currency CAD using the bid side of the market. The six month forward rate to use is: Spot rate + (six months points / 10,000) or 1.4011 + (46 / 10,000) = 1.4057. Subtract the original spot rate at purchase to etermine the EUR cash flow at settlement. (1.4057 –1.4301) × 1,000,000 = €–24,400. This cash flow six months in the future is then discounted to the present: –24,400 / (1 + 0.025 (180/360) = €–24,098.76 ≈ €–24,099.