GWA corporation of Makati paid P1,128,750 for a 35% interest in KYJ company of Taiwan on January 1, 2022, when KYJ's net asset totaled 375,000 NT dollar and the exchange rate for NT dollar was P8.60. A summary of changes in KYJ's net assets during 2022 is as follows:

NT Dollar Exchange Rates

Net assets, January 1 375,000 P8.60

Net income for 2022 75,000 8.55

Dividends paid for 2022 25,000 8.54

GWA Corporation anticipated a strengthening of the Philippine peso against the NT Dollar during the last half of 2022, and it borrowed 150,000 NT dollar from a Taiwanese bank for one year at 10% interest on July 1, 2022 to hedge its net investment in KYJ.

The loan was made when the exchange rate for NT dollar was P8.55. The loan was denominated in NT dollar and the current exchange rate at December 31, 2022 was P8.50.

What is the other comprehensive income - translation adjustment presented in equity in 2022 as a result of hedging?

a. 6,587.50

b. 14,087.50

c. 20,675

d. 0