Cray Research sold a supercomputer to the Max Planck Institute in Germany on credit and invoiced 13.40 million payable in six months. Currently, the six-month forward exchange rate is $1.27 per euro and the foreign exchange adviser for Cray Research predicts that the spot rate is likely to be $1.22 per euro in six months.

Required:

What is the expected gain/loss from a forward hedge?

Note: A Negative value should be indicated with a minus sign. Do not round intermediate calculations. Round your final answer in whole dollars not in millions.