Current Attempt in Progress Headland Corporation has elected to use the fair value option for one of its notes payable. The note was issued at an effective rate of 12% and has a carrying value of $15,000. At year-end, due to a change in credit risk, Headland's borrowing rate has declined; the fair value of the note payable is now $16,200. (a) Your answer is incorrect. B Determine the unrealized holding gain or loss on the note. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) Unrealized Holding Gain or Loss $ 1200