Assume that a parent company sets up a subsidiary to produce printed circuit boards in a foreign country that has lower tax and labor rates. The subsidiary purchases components from the parent, produces the PCBs, and then sells them back to the parent. The subsidiary keeps its books in the local (foreign) currency, but all purchase and sales prices are pegged to US doller. At what rate would be depreciation expense recorded in the subsidiary's books be translated to US dollars?a. The current rateb. The average rate of the yearc. The historical rate that was in effect when the related asset was purchasedd. The beginning of the year rate