Question 3 ot yet answered On Dec 1, 2015, XYZ (a US firm) entered into a transaction to import raw materials from EU country. The account is to be settled Mar 1, 2016 with the payment of 50,000 euros. The spot rate for euros on Dec 1 was $1.4/euro and on Mar i was $1.44/euro. What is the total amount of the transaction gain or loss to be included in net income? arhed out of 100 -Flag question O a. No gain or loss is recognized until the raw materials are sold Ob. There is no gain or loss. The change in the value of the raw materials offsets the change in payable Oc$2,000 gain Od $2,000 loss