Forward Pricing and Valuation in Currency Forwards

XYZ Corporation is based in the United States and has a planned purchase of €1,000,000 in six months. Currently, the spot exchange rate is 1.10 USD/EUR. XYZ Corporation is concerned about the potential depreciation of the euro against the dollar and wants to hedge this exposure. The six-month forward rate for euro is currently quoted at 1.12 USD/EUR.

Given this information, what is the effective cost in USD for XYZ Corporation to purchase €1,000,000 in six months using the forward contract?