13. From the given data, Determine the net foreign exchange gain/(loss) for 2018.

On December 1, 2018, SONY Company paid P10,000 to purchase a 90-day put option for FC500,000. The option's purpose is to hedge an exposed accounts receivable of FC500,000 from a sale of merchandise. The merchandise is to be shipped on December 1, 2018, payment for which is due on March 1, 2019. Relevant rates and market values at different dates are as follows: 12/01/2018 12/31/2018 03/01/2019 Spot rate (market price) P1.20 P1.11 P1.14 Strike price (exercise price) 1.20 1.20 1.20 Fair Value of Put Option P56,000ARABICA Company sold coffee for 5,000,000 Yen to a customer in Japan on November 2, 2019. Collection in Japanese Yan was due on January 31, 2020. On the same date, to hedge this foreign currency exposure, ARABICA Company entered into a forward contract to sell 5,000,000 Yen to Export Bank for delivery on January 31, 2020. Indirect exchange rates on different dates were as follows: Nov 2 Dec 31 Jan 31 Spot rate 2.00 2.10 2.15 30-day forward rate 2.25 2.50 2.60 60-day forward rate 2.35 2.63 2.75 90-day forward rate 2.40 2.75 2.85