A currency dealer has good credit and can borrow either $$1,000,000$ or $800,000$ for one year. The one$-$year inflation rate in the U$.$S$.$ is pi$\_\{$s$\}=2\%$ and in the curo zone the one$-$year inflation rate is pi$\_\{$e$\}=6\%$ The one$-$year forward exchange rate is $\backslash$$$1\mathrm{.}20=$ mathcal E$1\mathrm{.}00$ what must the spot rate be to eliminate arbitrage opportunities $?$ S$1\mathrm{.}2471=$E$1\mathrm{.}00$; S$1\mathrm{.}2000=$E$1\mathrm{.}00$; S$1\mathrm{.}1547=$ in$1\mathrm{.}00$; S$1\mathrm{.}0200=$E$1\mathrm{.}00$