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On October 1 , 2 0 2 0 , Megart Co . ( a U . S . - based company ) receives an order

On October 1,2020, Megart Co.(a U.S.-based company) receives an order from a customer in Poland to deliver goods on January 31,2021, for a price of 1,014,000 Polish zlotys (PLN). Megart enters into a forward contract on October 1,2020, to sell 1,014,000 PLN on January 31,2021. Megart designates the forward contract as a fair value hedge of a foreign currency firm commitment. The fair value of the firm commitment is measured by referring to changes in the forward rate, and, therefore, forward points are included in assessing hedge effectiveness. Exchange rates for $U.S. per 1 PLN follow.
Date Spot Rate
Forward Rate to January 31,2021
October 1,2020 $0.28 $0.32
December 31,20200.300.35
January 31,20210.330.33
What dollar amount will Megart report on its 2021 income statement for Sales to this customer?

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