On December 1, 2016, Mosby, a U.S. company, sells goods to a German company, with payment of 300,000 euros to be received on March 1,2017 . Mosby also enters into a forward contract on December 1, 2016 to sell 300,000 euros on March 1, 2017. Exchange rates for the euro on various dates are as follows: Assuming that Mosby designates the forward contract as a fair value hedge of a foreign currency receivable, what is the net impact on its net income in 2016 resulting solely from the fluctuation in the value of Euro? Mosby amortizes forward points on a monthly basis using a straight-line method. $2,000 decrease in net income. $12,000 increase in net income. $3,000 decrease in net income. $1,500 decrease in net income