On March 1, Tres Hermanos Import-Export Company purchased merchandise costing 80,000 Mexican pesos. Payment was due, in pesos, on June 1. The exchange rates of pesos for $1 were as follows:

March 1 $1 = 19.8 pesos
June 1    $1 = 19.6 pesos

Round all answers to the nearest dollar.

Required:
1. What is the liability in dollars on March 1?
2. What is the liability in dollars on June 1?
3. If Tres Hermanos pays on June 1, is there an exchange gain or loss? If so, how much is it?