On September 1, 2014, Faust Corp received an order for equipment from a foreign customer for 300,000 local currency units (LCU) when the US dollar equivalent was $96,000. Faust Corp. shipped the equipment on October 15, 2014, and billed the customer for 300,000 LCU when the US dollar equivalent was $100,000. Faust Corp received the customers remittance in full on November 16, 2014, and sold the 300,000 LCU for $105,000. In its income statement for the year ended December 31, 2014, Faust Corp should report as part of net income a foreign exchange transaction gain of

$0

$4,000

$5,000

$9,000