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A U.S. company anticipates that it will purchase merchandise from a Swiss supplier for CHF 380,000 at the end of August and pay for it

A U.S. company anticipates that it will purchase merchandise from a Swiss supplier for CHF 380,000 at the end of August and pay for it at the time the merchandise is delivered. On May 1, when the spot rate is $1.046/CHF and the forward rate for delivery on August 30 is $1.047/CHF, the company enters a forward contract to buy CHF 380,000 on August 30. The forward contract qualifies as a cash flow hedge of the forecasted purchase. The company purchases the merchandise on August 30, when the spot rate is $1.032/CHF, and closes the forward contract and pays the supplier 380,000. The company sells the merchandise in October. The company has a December 31 year-end. As of August 30, what is the effect of the above events on other comprehensive income

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