On September 1, 2020 Mertz Co. (a U.S.-based company) receives an order from a Brazilean customer to deliver goods on January 31, 2021, for a price of 200,000 Brazilean reals. Mertz enters into a forward contract on September 1, 2020 to sell 200,000 reals on January 31, 2021. $ exchange rates per real follow. Date Spot Rate Forward Rate (to January 31, 2021) September 1, 2020 $0.250 $0.290 December 31, 2020 0.285 0.308 January 31, 2021 0.320 0.320 What is the Foreign Exchange Gain or Loss Mertz will record for the Firm Commitment on its December 31, 2020 income statement? A - indicates a loss. Multiple Choice $3,600 $0 $7,000 -$4,600