in its december 31 2006 income statement what amount should hunt report as foreign e 606360

Hunt Co. purchased merchandise for £300,000 from a vendor in London on November 30, 2006. Payment in British pounds was due on January 30, 2007. The exchange rates to purchase one pound were as follows:

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In its December 31, 2006, income statement, what amount should Hunt report as foreign exchange transaction gain as part of net income?

1. $12,000
2. $ 9,000
3. $ 6,000
4. $0