On September 22, 20x2, Yellow Corp. purchased merchandise from an unaffiliated foreign company. It paid 10,000 units of the foreign company's local currency. On that date, the spot rate was $0.55. Yellow paid the bill in full on March 20, 20x3, when the spot rate was $0.65. The spot rate was $0.70 on December 31, 20x2. Which amount should Yellow Corp. report as a foreign currency transaction loss in its income statement for the year ended December 31, 20x2?

a. $500

b. $0

d. $1,000