On April 1, 2017, Zorin Company entered into two forward exchange contracts to purchase 300,000 euros each in 90 days. The relevant exchange rates are as follows: Spot rate Forward Rate For Aug. 1, 2017 April 1, 2017 1.16 1.17 April 30, 2017 (year-end) 1.20 1.18 The second forward contract was strictly for speculation. On April 30, 2017, what amount of foreign currency transaction gain should Zorin report in income.