Kwon Company is headquartered in Seoul, Korea and maintains its accounting records in the Korean Won currency. However, Kwon Company applies US accounting principles. Kwon owns 100% of Siesta Company that is located in Chile. Siesta's workers are Chilean and 85% of the material used in Siesta's factory is purchased in Chile while the remainder is purchased in Korea. Siesta Company sells its products all over the world and prices are denominated in the Chilean Peso. During the past three years Chile's inflation rate has averaged 35% annually. Based on this information which of the following statements are true?

Please select the correct answer from the choices:

a. Siesta's functional currency is the Chilean Peso and the current method should be used for translation.

b. Siesta's functional currency is the Korean Won and the current method should be used for translation.

c. Siesta's functional currency is the Korean Won and the temporal method should be used for re-measurement.

d. Siesta's functional currency is the Chilean Peso and the temporal method should be used for re-measurement.

e. None of the Above