Silva purchases raw material from its foreign supplier, Hall, on May 31. Payment of 1,500,000 foreign currency units (FC) is due in 30 days. June 30 is Silva's fiscal year-end. The pertinent exchange rates were as follows:

May 31	Spot rate:	$	1.16
June 30	Spot rate:	$	1.14
July 7	Spot rate:	$	1.12

How much Foreign Exchange Gain or Loss should Silva record on June 30?

a.

$56,000 loss

b.

$28,000 loss.

c.

$30,000 gain.

d.

$0 gain.

e.

$30,000 loss.