Turkish based ABC Inc., owes XYZ Inc., $1\mathrm{.}000\mathrm{.}000$ and is scheduled to receive $$950\mathrm{.}000$ from KLM Inc., in $30$ days.Let the $30-$day forward rates at which ABC can contract to buy and sell euros and dollars be TRY$2\mathrm{.}86/$EUR andTRY$2\mathrm{.}19/$USD respectively. Assume that ABC Inc., contracted with a local bank in order to eliminate its foreign exchange exposures with the corresponding $30-$day forward rates. $(20$p$)$a$.$ Provide a qualitative description of ABC's transaction exchange risk. $(5$p$)$b$.$ Summarize the asset and liability positions of ABC Inc.