4.24Suppose the price indexes in Mexico and the U.S., which both began the year at 100, are at 160 and 103, respectively, by the end of the year. If the exchange rate began the year at Mex$4.5 = $1 and ended the year at Mex$5.9 = $1, then the change in the real value(change in real exchange rates ) of the peso during the year is(a "" indicates a real devaluation)

a)0.0%

b)5.0%

c)18.5%

d)8.2%

Please provides steps of solving this question

the answer should be c