On July 1, 2020, CANCO purchased inventory from its main U.S. supplier, RNB Enterprises, at a cost of US$12,000. CANCO's year end is on July 31. Payment of US$12,000 for the inventory is due on August 31, 2020. Some important dates regarding this transaction, as well as the exchange rates in effect at each of these dates are shown below:

Transaction date: July 1, 2020:	1 U.S. Dollar = CDN$1.370
Year end: July 31, 2020:	1 U.S. Dollar = CDN$1.345
Settlement date: August 31, 2020:	1 U.S. Dollar = CDN$1.325

What would be the amount of the foreign exchange gain or loss recorded at the settlement date?