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The euro - dollar exchange rate, EUR / USD , declined from EUR 0 . 9 / USD on April 1 5 , 2 0

The euro-dollar exchange rate, EUR/USD, declined from EUR0.9/USD on April 15,2011 to EUR0.85/USD on July 20,2011. Over the period July 20,2011 to Dec 31st,2011 the Euro appreciated by 14% against the USD. What was the EUR/USD exchange rate on Dec 31st,2011? The answer is EUR 0.746/USD. Please explain how they found this answer.

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