Highland Company sold goods to an Egyptian company for 350,000 Egyptian pounds on December 6, 20X3, with payment due on January 15, 20X4. The exchange rates were as follows: December 6, 20X3 1 Egyptian pound = $ 0.1593 December 31, 20X3 1 Egyptian pound = $ 0.1612 January 15, 20X4 1 Egyptian pound = $ 0.1604 Based on the preceding information, what is Highland's overall net gain or net loss from its foreign currency exposure related to this transaction?

Multiple Choice

$280 loss

$302 loss

$385 gain

$665 gain