a$)$ The Survey of Financial Forecasters $($SFF$)$ publishes regularly long$-$term inflation

forecasts over the next five years. China and Euro area inflation rates are expected to be

$2\mathrm{.}9$ percent and $1\mathrm{.}6$ percent per annum over the next year, respectively, and later on$,$ Chinese $($European$)$ inflation rate is projected to rise at an annual growth rate of $2\%(5\%).$ Based on the purchasing power parity $($PPP$)$ relation, what would be CNY$/$EUR exchange rate estimate over five years, if the current spot rate is $7\mathrm{.}6381?$