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19.14 EXCHANGE GAINS AND LOSSES You are the vice president of International InfoXchange, headquartered in Chicago, Illinois . All shareholders of the firm live in

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19.14 EXCHANGE GAINS AND LOSSES You are the vice president of International InfoXchange, headquartered in Chicago, Illinois . All shareholders of the firm live in the United States. Earlier this month you obtained a loan of 5 million Canadian dollars from a bank in Toronto to finance the construction of a new plant in Montreal . At the time the loan was received, the exchange rate was $1.05 to the Canadian dollar. By the end of the month , it has unexpectedly dropped to 95 cents. Has your company made a gain or a loss as a result , and by how much

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