XYZ Corp Has a Calendar Year End The Average Rates in Effect for 2019 and 2020 Were

XYZ Corp. has a calendar year end. On January 1, 2019, the company borrowed $5,000,000 U.S. dollars from an American Bank. The loan is to be repaid on December 31, 2022 and requires interest at 5% to be paid every December 31. The loan and applicable interest are both to be repaid in U.S. dollars. XYZ does not hedge to minimize its foreign exchange risk. The following exchange rates were in effect throughout the term of the loan:
$$\begin{array} { | l | c | } \hline \text { Jaruary } 1,2019 & \text { US } \$ 1 = \text { CDN } \$ 1.1500 \\\hline \text { December } 31,2019 & \text { US } \$ 1 = \text { CDN } \$ 1.1490 \\\hline \text { December } 31,2020 & \text { US } \$ 1 = \text { CDN } \$ 1.1485 \\\hline \text { December } 31,2021 & \text { US } \$ 1 = \text { CDN } \$ 1.1483 \\\hline \text { December } 31,2022 & \text { US } \$ 1 = \text { CDN } \$ 1.1487 \\\hline\end{array}$$ The average rates in effect for 2019 and 2020 were as follows:
$$\begin{array} { | l | l |} \hline\text { 2019: } & \text { US } \$ 1 = \text { CDN } \$ 1.1493 \\\hline 2020 : & \text { US } \$ 1 = \text { CDN } \$ 1.1487\\\hline\end{array}$$ What is the amount of the foreign exchange gain or loss recognized on the 2019 Income Statement as a result of revaluing the loan payable?

A) A CDN$10,000 loss
B) A CDN$5,000 loss
C) A CDN$5,000 gain
D) A CDN$10,000 gain