Required:

Suppose a stock price can go up by $15\%$ or down by $13\%$ over the next year. You own a one$-$year put on the stock. The interest rate is $10\%,$ and the current stock price is $$60.$

b$.$ How does this break$-$even exercise price change if the interest rate is increased?

$($Use the $=$ function in excel$)$