a$.$ You speculate that TL depreciates to USD$\mathrm{.}33/$TL and you want to trade June expiration futures contract with settlement price of USD. $\frac{37}{T}L.$ However, in May the June contract is sold for USD. $\frac{40}{T}L$ and you decide to close your position to limit your loss. If the notional amount is TL$350,000,$ calculate your loss. $($We are in March$).$

b$.$ You speculate that TL appreciates to USD$\mathrm{.}40/$TL and you want to trade June expiration futures contract with settlement price of USD$\mathrm{.}37/$TL$.$ However, your speculation does not come true and the spot rate at the settlement USD. $\frac{35}{T}L.$ If the notional amount is TL$350,000,$ calculate your profit$/$loss$.$