GKM Ltd. is the Singapore subsidiary of GKM USA, an American multinational chemical company. GKM Ltd's reporting currency is the USD. GKM Ltd.'s December 31 balance sheet is shown below. At the date of this balance sheet, the exchange rate between the SGD and the USD was SGD 1.30/USD.

What is GKM Ltd.'s contribution to the translation exposure of GKM USA on December 31 using the temporal method?

Assets

Cash                            SGD 112,000

A/R                              SGD 82,800

Inventory                     SGD 144,700

Plant & equipment      SGD 543,000

   Total                         SGD 882,500

Liabilities & Shareholders’ equity

A/P                              SGD 78,000

ST bank debt               SGD 23,000

LT debt SGD 81,500

Capital stock               SGD 700,000

   Total                         SGD 882,500

a) -USD 538,461

b) +USD 9,461.5

c) -USD 700,000

d) +USD 12,300