Siam Cement. Siam Cement, the Bangkok-based cement manulacturer, suffered enoemous losses with the coming of the Asian crisis in-1997, The company had been pursuing a very aggressive growth strategy in the mid-19905, taking on massive quantities of foreign-currency-denominated dobt (primarly U.S. dollars). When the Thai baht (B) was devalued from its pegged rate of B25.01S in July 1997, Siam's interest payments alone were over $900 milion on ils outstanding dollar debt (wth an average interest rate of 8.40% on its U.S. dollar debt at that time). Assuming Siam Cement fook out $50 million in debt in June 1997 at 8.40% interest, and had to repay it in one year when the spot exchange rate had stabizized at B42.0/\$, what was the foreign exchange loss incurred on the transaction? The amount of the foresgn exchange loss incurred on the transaction is E (Round to the nearest whole number)