$1.$ On December $1,2023$ Peters Corporation $($a US based Company$)$ sold goods to a foreign customer at a price of $1,200,000$ pesos and will receive payment in three months on March $1,2024.$ On December $1,$ Peters acquired an option to sell $1,200,000$ pesos in three months at a strike price of $$0\mathrm{.}075.$ Relevant exchange rates and option premiums for the peso are as follows:

Date

Spot Rate

Put Option Premium $3/1/24$

$($Strike Price $$0\mathrm{.}075)$

December $1,2023$

$$0\mathrm{.}075$

$$0\mathrm{.}0018$

December $31,2024$

$$0\mathrm{.}072$

$0\mathrm{.}0014$

March $1,2024$

$$0\mathrm{.}070$

n$/$a

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Assume that Peters designates the foreign currency option as a cash flow hedge of a foreign currency receivable, what is the impact on the net income over the two accounting periods?

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