Problem 9-5 (Algo) (LO 9-2, 9-3) On July 1, 2020, Mifflin Company borrowed 430,000 euros from a foreign lender evidenced by an interest-bearing note due on July 1, 2021. The note is denominated in euros. The U.S. dollar equivalent of the note principal is as follows: Date July 1, 2020 (date borrowed) December 31, 2020 (Mifflin's year-end) July 1, 2021 (date repaid) Amount $ 340,000 332,600 320,700 In its 2021 income statement, what amount should Mifflin include as a foreign exchange gain or loss on the note? Multiple Choice $11,900 loss $19,300 gain $11.900 gain $19,300 loss