On December 1, 2019, Rubble Company (a U.S.-based company) entered into a three-month forward contract to purchase 2,000,000 pesos on March 1, 2018. The following U.S. dollar per peso exchange rates apply:

Date	Spot Rate	Forward Rate (to March 1, 2020)
December 1, 2019	$0.044	$0.047
December 31, 2019	0.045	0.049
March 1, 2020	0.050	N/A

Which of the following correctly describes the manner in which Rubble Company will report the forward contract on its December 31, 2019, balance sheet?