On April 1, 2010, Shannon Company, a U.S. company, borrowed 100,000 euros from a foreign bank by signing an interest-bearing note due April 1, 2011. The dollar value of the loan was as follows:

Date	Amount
April 1, 2010	$ 97,000
December 31, 2010	$ 103,000
April 1, 2011	$ 105,000

How much foreign exchange gain or loss should be included in Shannon's 2011 income statement?

$1,000 gain.
$1,000 loss.
$2,000 gain.
$2,000 loss.
$8,000 loss.