Suppose that the U$.$S$.$ firm Halliburton buys construction equipment from the Japanese firm Komatsu at a price of $240$

million. The equipment is to be delivered to the United States and paid for in one year. The current exchange rate is

$96=$$$1.$ The current interest rate on one$-$year U$.$S$.$ Treasury bills is $9\%,$ and on one$-$year Japanese government bonds

the interest rate is $7\%.$

a$.$ If Halliburton exchanges dollars for yen today and invests the yen in Japan for one year, it will need $$2,336,449$ to

exchange today in order to have $240$ million in one year. $($Round your response to the nearest dollar.$)$

b$.$ If Halliburton enters a forward contract, agreeing to buy $240$ million in one year at an exchange rate of $94=$$$1,$ it

will need $$$ today if it plans to invest the dollars at the U$.$S$.$ interest rate of $9\%.($Round your response to the

nearest dollar.$)$