On March 1, 2021, CEDN a Canadian based company, sold equipment to an American based company in the amount of $US55,000. At the time of the sale, the American company paid $US20,000, with the remaining amount in the form of a loan, to be paid to CEDN on December 31, 2021, which is also CEDNs fiscal year end. The interest rate on the loan is 11% annually. The functional currency is the Canadian dollar.

Some important dates regarding this transaction, as well as the exchange rates in effect at each of these dates are shown below:

March 1, 2021:	1 CDN Dollar = US$0.75
December 31, 2021:	1 CDN Dollar = US$0.73

1) What is the original value of the receivable on the transaction date?

2) What is the closing value of the receivable prior to payment made by the American company?

3) What is the overall exchange gain or loss the CEDN would recognize on December 31?