Party Co.'s wholly owned subsidiary, Smarty Corp., maintains its accounting records in German marks. Because all of Smarty's branch offices are in Switzerland, its functional currency is the Swiss franc. Remeasurement of Smarty's Year 20x2 financial statements resulted in a $7,600 gain, and translation of its financial statements resulted in an $8,100 gain. Which amount should Party report as a foreign exchange gain in its income statement for the year ended December 31, 20x2?

$0

$7,600

$8,100

$15,700