On OCTOBER 4, 2020, SAMA Corporation borrowed 250,000 British pounds from a London bank, evidenced by an interest-bearing note payable due in one year. The note was payable in pounds. Exchange rates for pounds were:

October 4, 2020..........................$1.59

December 31, 2020....................$1.55

October 4, 2021..........................$1.61

What is the final amount of the loan payable that SAMA repaid?

What exchange gain or loss appeared on SAMA'S 2021 income statement?