Snap Inc. was established on December 31, 20X4. Pop Corp. purchased a controlling interest in Snap on December 31, 20X5. Snap operates in France, where the currency is the euro. In preparation for the consolidation process, the financial statements of Snap need to be translated into Canadian dollars, and the appropriate translation gain or loss calculated. Below are Snap's financial statements for the year ended December 31, 20X6:

Snap Inc. Statement of financial position As at December 31

20X6 20X5

Cash 100,000 84,000

Accounts receivable 375,000 400,000

Inventory 250,000 225,000

Property, plant, and equipment net 1,102,000 945,000

Total assets 1,827,000 1,654,000

Accounts payable 309,000 288,000

Bank loan 210,000 190,000

Total liabilities 519,000 478,000

Common shares 1,000,000 1,000,000

Retained earnings 308,000 176,000 T

otal liabilities and equity 1,827,000 1,654,000

Snap Inc. Statement of comprehensive income Year ended December 31, 20X6

Sales 4,125,000

Cost of goods sold 2,475,000

Gross margin 1,650,000

Selling, general, and administrative expenses 1,235,000

Net income before tax 415,000

Income tax expense 103,750

Net income 311,250

Foreign exchange rates

December 31, 20X4 1 = C$1.31

Average last quarter of 20X5 1 = C$1.36

December 31, 20X5 1 = C$1.37

December 15, 20X6 1 = C$1.33

December 31, 20X6 1 = C$1.35

Average rate 20X6 1 = C$1.36

Average last quarter of 20X6 1 = C$1.34

Additional information: Inventory was purchased evenly throughout the year. Ending/beginning inventories are purchased in the last quarter of each year. Depreciation of 143,000 is included in selling, general, and administrative expenses. Equipment was purchased on December 31, 20X6, using 300,000 cash. Dividends declared and paid (December 15) totalled 179,250.

Assuming that Snap's functional currency is the Canadian dollar, what is the amount of translation gain or loss that arises in 20X6?

a) $51,180 loss b) $30,217 loss c) $7,997 loss d) $6,567 loss