Question: On October 1 , Year 1 , CAR Ltd . issued a 6 % , 1 0 - year debenture denominated in euros. What rate

On October 1, Year 1, CAR Ltd. issued a 6%,10-year debenture denominated in euros. What rate should be used to translate interest expense for this 10-year debenture for the year ended December 31, Year 1?
Multiple Choice
The average rate for the quarter ended December 31, Year 1.
The average rate for the year ended December 31, Year 1.
The rate on December 31, Year 1.
The rate on October 1, Year 1.

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