On October $1,2021,$ Eagle Company forecasts the purchase of inventory from a British supplier on February $1,2022,$ at a price of $100,000$ British pounds. On October $1,2021,$ Eagle pays $$1,800$ for a three$-$month call option on $100,000$ pounds with a strike price of $$2\mathrm{.}00$ per pound. The option is considered to be a cash flow hedge of a forecasted foreign currency transaction. On December $31,2021,$ the option has a fair value of $$1,600.$ The following spot exchange rates apply:

Date Spot Rate

October $1,2021$ $ $2\mathrm{.}00$

December $31,2021$ $ $1\mathrm{.}97$

February $1,2022$ $ $2\mathrm{.}01$

What is the $2022$ effect on net income as a result of these transactions?