Eagle, Inc. is a manufacturer and distributor of consumer products in the U. S. It has a wholly owned foreign subsidiary, El Rio, which sells Eagle products in Mexico. El Rio receives all of its products from Eagle, sells those products, and remits the proceeds to Eagle. El Rio maintains its books and prepares its financial statements in the Mexican peso. Which one of the following methods will Eagle most likely use to convert El Rio's financial statements to dollar-based statements? A. Translation. B. Remeasurement. C. Translation and then remeasurement. D. Remeasurement and then translation.
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