1. On October 2, 20X4, Duck Corporation borrowed 150,000 British pounds from olondon bank, evidenced by an interest-bearing note payable dus in one year. The note was payable in pounds, Exchange rates for pounds wos: October 2, 20X4 $1.60 December 31, 20X4 $1.62 October 2, 20X5 $1.56 What exchange gain or loss appeared on Duck's 20X4 incorne statement