On November 6,20X7,Zucor Corp

Multiple Choice

On November 6,20X7,Zucor Corp.purchased merchandise from an unaffiliated foreign company for 50,000 units of the foreign company's local currency.On that date,the spot rate was $1.259.Zucor paid the bill in full three months later when the spot rate was $1.258.The spot rate was $1.255 on December 31,20X7.What amount should Zucor report as a foreign currency transaction gain in its income statement for the year ended December 31,20X7?

A) $0
B) $50
C) $150
D) $200