Module 4 Homework assignment: On September 1, Year 1, ABC Company received an order to sell a machine to a customer in Canada site price of 100,000 Canadian dollars. The machine was shipped and payment was received on March 1, Wear 2. On September 1, Year 1. ABC Company purchased a put option giving it the right to! 100 000 C: an dollars on March 1, Year 2, at a price of $75.C00 ABC Company properly des pic anFoes the cobon as a fair va h-dollar firm commement The option con $1.700 and had a fair value of $2, 800 on December 31, Year : hmm commitment is measured through reference to changes in the spot mate. ABC Company Blue factor for two months Et interest rate of 12 percent 0.5. Do 3 per Canadian Dollar Sectember 1. Wear 1 30.75 30amber 31. Year 1 0.73 March 1, Year Prepare Journal entries for the option fair value hedge and the firm commitment and decall calculation for each Journal entry and question. 1 -What was the net impact on ABC Company's Year 1 income as a result of this fairvalue hedge of a firm commitment