Jackson Corporation (a U.S.-based company) sold parts to a Korean customer on December 16, 2024, with payment of 20 million Korean won to be received on January 15, 2025. The following exchange rates applied:

Date	Spot Rate	Forward Rate to January 15
December 16, 2024	$ 0.00082	$ 0.00089
December 31, 2024	0.00080	0.00083
January 15, 2025	0.00086	0.00086

Assuming a forward contract was not entered into, what would be the net impact on Jackson's 2024 income statement related to this transaction?

Multiple Choice

$600 (gain)

$600 (loss)

$400 (gain)

$400 (loss)

$0