Assume that annual interest rates are $6$ percent in the United States and $5$ percent in Turkey. An FI can borrow $($by issuing CDs$)$ or lend $($by purchasing CDs$)$ at these rates. The spot rate is $$\frac{0\mathrm{.}6568}{?}$ Turkish lira $($TL$).$

$1$

a$.$ If the forward rate is $$\frac{0\mathrm{.}6735}{?}$ TL$,$ how could the bank arbitrage using a sum of $$7$ million? What is the spread earned? $($Do not round points intermediate calculations. Round your answer to $4$ decimal places. $($e$.$g$.,32\mathrm{.}1616))$

b$.$ At what forward rate is this arbitrage eliminated? $($Do not round intermediate calculations. Round your answer to $5$ decimal places. $($e$.$g$.,32\mathrm{.}16161))$

Answer is complete but not entirely correct.

$\backslash$table$[[,],[$a$.,$Spread earned,$0\mathrm{.}0767ox,\%$