Enola Company, a U.S. corporation, entered into two different transactions involving entities

from other countries during 2020.

(1.) Purchased merchandise from a Mexican supplier on July 2, 2020 and agreed to pay the

supplier in Mexican peso which had a U.S. dollar equivalent of $30,000 at the time Enola

received the merchandise and paid U.S. dollars of $34,000 on September 18, 2020 to settle

this Mexican peso obligation.

(2.) Entered into a 9-month Euro dollar loan on July 3, 2020 with a U.S. dollar equivalent of

$550,000 on the date the funds were borrowed. At December 31, 2020, the U.S. dollar

equivalent of this Euro note was $510,000 on December 31, 2020, and at the time of settlement

on April 2, 2021, the U.S. dollar equivalent was $525,000.

What amount should be included as a foreign exchange gain or loss from the two transactions for 2020?