Peck corporation, a foreign subsidiary was acquired by a U.S. corporation on January 1, 2020. Determine the exchange rate used to restate the following accounts at December 31, 2020.

Land was purchased on October 1, 2020.

Equipment was purchased on February 1, 2020.

Inventory was purchased on October 1, 2020 (reported at cost)

Relevant exchange dates follow:

(A) January 1, 2020

(B) October 1, 2020

(C) December 31, 2020

(D) Average, 2020

(E) February 1, 2020

Identify the exchange rate used to translate land when the functional currency is the U.S dollar.