On November 1, Year 2, Kir Co. signed a contract to purchase 10,000 British pounds on February 2, Year 3. The relevant exchange rates are as follows: Spot rate Forward rate November 1, Year 2 December 31, Year 2 $2.05 2.06 Kir accounts for the forward contract as a speculative transaction. What amount of gain, if any, should Kir report from this forward contract in its income statement for the year ended December 31, Year 2? Select one: O $1.98 2.00 b. $100 C. $600 d. $700 22. Your protectic