Hudson Valley Distributors wants to be sure it has $10,000$ cases of Beaujolais Nouveauto sell next November. In January, they agree to buy the wine for $34\mathrm{.}62$ euro to the case. Payment will be due at the end of November. They expect to sell the wineto restaurants and retailers for $$63$ per case. Hudson Valley has hedged its foreign exchange risk by entering into a forward contract to purchase euros in November at $$1\mathrm{.}30/$euro$.$

a$).$ If Hudson Valley uses the euro futures, calculate the gross profit to Hudson Valleyif the spot exchange rate at the end of November is $$1\mathrm{.}25/$euro$.$

b$).$ If Hudson Valley does not use the euro futures, calculate the gross profit to HudsonValley if the spot exchange rate at the end of November is $$1\mathrm{.}25/$euro$.$