Eximco sold product to a European buyer agreeing to accept 2,000,00060 days later. At the time of the sale the spot rate was USD\$1.0732/C1.00. At the settlement date the spot rate on the cash-flow date is USD\$1.0315/1.00. Required: Determine net gain or loss from the unhedged transaction. Starting with the same facts as above, assume Eximco decided to hedge the transaction with a 60 -day put option carrying a $2,000 option premium and a strike price of $1.0490/1.00 as determined by the bank. Required: Determine net gain or loss from the hedged transaction