On October 1, 2022, HIJ Philippines took delivery from Bahrain firm of inventory costing 1,140,000 dinar. Payment is dueon January 30, 2023. Concurrently, HIJ Philippines paid P15,700 cash to acquire an at the money call option for 1,140,000Bahrain Dinar. Strike price is P12.40

10/1/2022 Market price 12.4 Fair value of call option ?

12/31/2022 Market price 12.42 Fair value of call option 28,200

1/30/2023 Market price 12.427 Fair value of call option 30,780

1. The foreign exchange gain(loss) on hedging instrument due to change in ineffective portion on dec 31 2022 2. The foreign exchange gain(loss) on hedging instrument due to change in effective portion on dec 31 2023 3. The dec 31 2022 net foreign exchange gain (loss) in hedging activity amounted to 4. The foreigh exchange gain (loss) on hedging instrument in 2023 if changes in time value will be included from the assessment of hedge effectiveness