A U$.$S$.-$based company has a foreign subsidiary that has the Mexican peso as its functional currency. The Mexican subsidiary recognizes in its Mexican peso income statement a foreign exchange gain on a Colombian peso account receivable. In preparing its consolidated income statement, the U$.$S$.$ parent company should translate the Mexican subsidiary's foreign exchange gain into U$.$S$.$ dollars using the

Multiple choice question.

average$-$for$-$the$-$year exchange rate between the Colombian peso and U$.$S$.$ dollar.

average$-$for$-$the$-$year exchange rate between the Mexican peso and U$.$S$.$ dollar.

current exchange rate between the Colombian peso and U$.$S$.$ dollar.

current exchange rate between the Mexican peso and U$.$S$.$ dollar.