Assuming the Theory of Purchasing Power Parity Holds, What Is

Assuming the theory of purchasing power parity holds, what is the exchange rate between the United States and Mexico if the price of an identical Under Armour shirt costs $25 in the United States and 350 pesos in Mexico rounded to the nearest penny) ?

A) $0.07 per peso
B) $14.00 per peso
C) $0.70 per peso
D) $0.88 per peso
E) $0.14 per peso