On August 1, 2020. ABC Company, a U.S. company, issued a 200.000 euro purchase order for equipment to be supplied by a German company. The equipment was shipped on December 15, 2020, f.o.b. (free on board) shipping point. ABC paid for the equipment on March 9.2021. The following are the exchange rates in effect: August 1, 2020 $1.25 December 15, 2020 $1.50 December 31, 2020 $1.35 March 9, 2021 $1.30 How much is the foreign currency transaction gain or loss that ABC should report on its income statement for the year ended December 31, 2020? (Hint: When is the legal title to the equipment transferred to the buyer? A. A gain of $30,000 B. A gain of $20,000. C. A loss of $20,000. D. A loss of $30,000