On April 1, 2014, Manatee Company entered into two forward exchange contracts to purchase 300,000 euros each in 90 days.The relevant exchange rates are as follows: 
The second forward contract was strictly for speculation.On April 30, 2014, what amount of foreign currency transaction gain should Manatee report in income.
Definitions:
Reification
Turning an abstract into a concrete thing—for example, assuming that because there are measures of intelligence, there is a unitary, tangible entity called intelligence.
Abstraction
The process of removing physical, specific details to focus on ideas or concepts at a more general, simplified level.
Real Thing
An authentic object or concept, as opposed to an imitation or reproduction.
Likert Scale
An interval scale on which respondents record their reactions to statements by checking their level of agreement between, for example, “strongly agree” and “strongly disagree.”
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