Suppose that you buy, and one year later sell, a foreign (British) bond under the following circumstances:

When you buy the bond the exchange rate is $2.00 = 1 pound.
You pay 45 pounds ($90.00) for the British bond.
You sell the bond for 50 pounds. No interest payment was expected or received.
When you sell the bond, the exchange rate is $1.70 = 1 pound.

What is your gain or loss in dollars? ____