Honk, Inc., a U.S. corporation, purchases weight-lifting equipment for resale from HiDisu, a Japanese corporation, for 60 million yen. On the date of purchase, 80 yen is equal to $1 U.S. (¥80:$1). The purchase is made on December 15, 2014, with payment due in 90 days. Honk is a calendar year taxpayer. On December 31, 2014, the foreign exchange rate is ¥84:$1.

On February 2, 2015, the invoice is paid when the exchange rate is ¥85:$1. What amount of foreign currency gain or loss, if any, must Honk recognize for 2014 as a result of this transaction? For 2015?