On April 1, 2014, Manatee Company entered into two forward exchange contracts to purchase 300,000 euros each in 90 days. The relevant exchange rates are as follows:

The second forward contract was strictly for speculation. On April 30, 2014, what amount of foreign currency transaction gain should Manatee report in income.

Select one:

a. $0.

b. $3,000.

c. $9,000.

d. $12,000.