The three$-$month forward on Crude oil trades at $$65.$ The spot price of crude is $$62.$

a$.$ If you buy the $3-$month forward contract crude and the spot price of crude after $3$

months is $$70,$ what is your cash outflow NOW?

b$.$ If you buy the $3-$month forward contract crude and the spot price of crude after $3$

months is $$80,$ what is your net cash flow three months from NOW?