I'm having problems to answer a) and b).

Can you help figuring out how to approach this problem, please?

Problem 3 Exchange Rate (a) The exchange rate spread and 3-month interest rate spread of US and Japan are shown as follows. Calculate the possible range of implied m and all: 3 month forward dollar [yen exchange rates, assuming Median Bid Median Ask Yen/ Dollar exchange 92 93 Borrowing rate Lending rate US 2% 0.5% Japan 1.4% 0.2% no risk-premium. (b) Consider the following hypothetical interest ratw on eurocurrency deposits: iUS = 0%, 12.; = 6%, and forward and spot dollar/yen rates: FT = 10.2, E: = 10. Is there any arbitrage opportunity? If yes, explain how would an arbitrageur take advantage of the discrepancy