Expected Nominal Exchange Rate under PPP

A multinational company operates in both the U.S. and the Eurozone. The current spot exchange rate is 1 USD = 0.85 EUR. According to the Purchasing Power Parity (PPP) theory, if the inflation rate in the U.S. is expected to be 3% over the next year while the inflation rate in the Eurozone is expected to be 1%, what is the expected exchange rate in one year?

Please calculate the expected nominal exchange rate using the formula based on the relative inflation rates.