Please answer the following question. Please show full working out/ calculations and justification, explaining the economic reasoning used to reach the answer.

Suppose that the current level of the GDP deflator is 110 and the nominal interest rate is 0.04. For what expected value of the GDP deator does the real rate in this economy equal 0.01? Round your answer to the nearest whole number (e.g., if your answer is 120.3,type it in as 120, if it is 120.5 or 120.7 submit it as 121)