_____ on 1/1/06, Putax Purchased a 1-Year At-The-Money FX Put

_____ On 1/1/06, Putax purchased a 1-year at-the-money FX put option from an FX trader involving 1,000,000 British pounds at a cost of $8,000. The exercise price was $1.40. The option was obtained to hedge Putax's budgeted 2006 export sales to British customers.
Actual export sales to British customers for the first quarter of 2006 were 300,000 pounds. At 3/31/06, the direct spot rate was $l.368 and the option's market value was $38,000. What amount is reported in Other Comprehensive Income at 3/31/06?

A) $ -0-
B) $9,000
C) $15,000
D) $21,000
E) $30,000