Date

July $1,2023($date borrowed$)$ $$265,000$

December $31,2023($Mifflin$\text{'}$s year$-$end$)258,800$

July $1,2024($date repaid$)245,000$

In Its $2024$ Income statement, what amount should Mifflin Include as a forelgn exchange galn or loss on the note?

Multiple Choice

$$13,800$ gain

$$13,800$ loss

$$20,000$ gain

$$20,000$ loss