On July 7th, Wilson Company, a U.S. company, ordered 15,000 parts costing 1,000,000 Thailand bahts from Ace Corp., a foreign supplier based in Thailand. On that date, the spot rate was $.025 per baht. To minimize the exchange rate risk, Wilson entered into a forward contract to purchase 1,000,000 bahts at a rate of $.027. The forward contract is properly designated as a fair value hedge. On August 7, when the parts are received, the spot rate is $.028. On September 5th, Wilson paid Ace 1,000,000 bahts, when the spot rate was .030. What amount will Wilson recognize as a net gain/loss with respect to this transaction? Select one: a. $2,000 gain b. $1,000 gain c. $2,000 loss d. $1,000 loss e. There is no gain or loss because the forward contract serves as a hedge against this transaction.