On October $1,2024,$ Eagle Company forecasts the purchase of inventory from a British supplier on February $1,2025,$ at a price of $100,000$ British pounds. On October $1,2024,$ Eagle pays $$1,800$ for a three$-$month call option on $100,000$ pounds with a strike price of $$2\mathrm{.}00$ per pound. The option is considered to be a cash flow hedge of a forecasted foreign currency transaction. On December $31,2024,$ the option has a fair value of $$1,600.$ The following spot exchange rates apply:

DateSpot RateOctober $1,2024$$ $2\mathrm{.}00$December $31,2024$$ $1\mathrm{.}97$February $1,2025$$ $2\mathrm{.}01$

What is the $2025$ effect on net income as a result of these transactions?

Multiple Choice

$$195,000$

$$201,600$

$$201,000$

$$202,600$

$$203,000$