Lowell Corp. (a U.S.-based company) sold parts to a Korean customer on December 16, 2018, with payment of 10 million Korean won to be received on January 15, 2019. The following exchange rates applied: Date Spot Rate Forward Rate to Jan.15 December 16, 2018 $ 0.00092 $ 0.00098 December 31, 2018 0.00090 0.00093 January 15, 2019 0.00095 0.00095 Assuming a forward contract was entered into on December 16, what would be the net impact on Lowell Corp.'s 2019 income statement related to this transaction? Assuming annual rate is 12%, and the present value factor of half a month at 12% is 0.9950. Multiple Choice $302 (gain). $301 (gain). $300(loss). $800 (gain). $299 (loss).