The Turkisk lira (TL) was officially devalued by the Turkish government in February 2001 during a severe political and economic crisis. The Turkish government announced on February 21st that the lira would be devalued by 20 %. The spot exchange rate on February 20th was TL 65,000 divided by $. a. What was the exchange rate after devaluation? b. What was the percentage change after falling to TL 95,000 divided by $ on February 24, three days after the devaluation?