The following are the foreign currency positions of a financial institution, expressed in the foreign currency. Currency Assets Liabilities Foreign exchange Foreign purchased exchange sold British pound () 30,488 13,415 9,146 12,195 Japanese yen () 9,252,406 3,700,962 1,480,385 10,856,156 The exchange rate of dollar per British pound is 1.6400, and of dollars per yen is 0.0081060. The following are the foreign currency positions converted to dollars. Currency Assets Liabilities Foreign exchange Foreign. purchased exchange sold British pound () $50,000 $22,001 $14,999 $20,000 Japanese yen (V) $75,000 $30,000 $12,000 $88,000 What is the expected loss or gain if the British exchange rate appreciates by 1 percent? State you answer in British s. British pound () $50,000 $22,001 $14,999 $20,000 Japanese yen (V) $75,000 $30,000 $12,000 $88,000 What is the expected loss or gain if the British exchange rate appreciates by 1 percent? State you answer in British Es. Oa. Gain is 140 O b. Loss is 240 OC Loss is 140 O d. Gain is 240