In 1980 the dollar to yen exchange rate was about $0.0045. In 2007 the yen to dollar exchange rate was about 121 yen per dollar. A Japanese producer would have had to increase the dollar price of a good sold in the U.S. by _____ to maintain the same yen price in 2007.

a. 83.7%

b. 79.5%

c. 65.4%

d. 59.3%