Shandra Corporation (a U.S.-based company) expects to order goods from a foreign supplier at a price of1DD'000 pounds. with delivery and payment to be made on April 20. On February 20, when the spot rate is $136 per pound. Shandra purchases a two-month call option on 100,000 pounds and designates this option as a cash flow hedge ota forecasted foreign currency transaction. The time value of the option is excluded in assessing hedge effectiveness; the change in time value is recognized in net income over the life ofthe option The option has a strike price of $136 per pound and costs $1,000. The goods are received and paid for on April 20' Shandra sells the imported goods in the local market by May 31. The spot rate for pounds is $1.41 on April 20' What amount will Shandra Corporation report as foreign exchange gain or loss in net income for the quarter ended June 30? Multiple Choice $1,000. $2,000. $5,000, 0000 $0