You are the Vice President of Finance for Exploratory Resources, headquartered in Houston, Texas. In January $20$X$1,$ your firm's Canadian subsidiary obtained a six$-$month loan of $170,000$ Canadian dollars from a bank in Houston to finance the acquisition of a titanium mine in Quebec province. The loan will also be repaid in Canadian dollars. At the time of the loan, the spot exchange rate was U$.$S$.$ $$0\mathrm{.}9002$ per Canadian dollar and the Canadian currency was selling at a discount in the forward market. The June $20$X$1$ contract $($face value $=C$$$170,000$ per contract$)$ was quoted at U$.$S$.$ $$0\mathrm{.}8944$ per Canadian dollar.

If the bank does hedge with the forward contract, what is the maximum amount it can lose?

Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount. $$

Maximum loss