Myway Company sold equipment to a Canadian company for 100,000 Canadian dollars (C$) on January 1, 20X9 with settlement to be in 60 days. On the same date, Myway entered into a 60-day forward contract to sell 100,000 Canadian dollars at a forward rate of 1 C$ = $.94 in order to manage its exposed foreign currency receivable. The forward contract is not designated as a hedge. The spot rates were: January 1, 1C$= $0.945, March 1, 1C$= 0.930. Based on the preceding information, had Myway not used the forward exchange contract, net income for the year would have:

	A.	increased by $1,000.
	B.	increased by $500.
	C.	decreased by $1,000.
	D.	decreased by $1,500.