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. Fujitsu produces a chip set and exports them to the United States. Last year the exchange rate was ¥111.30/$ and Fujitsu charged ¥5,565 per chip set in Japan and $50 per chip set in the United States. Currently the spot exchange rate is ¥108.51/$ and Fujitsu is charging $51 per chip set in the United States. What percent of the implied new price was passed on in the new U.S. chip set price? (Round percentage answer to two decimal places and answer X.XX% as X.XX, without the percentage sign)

2. The spot exchange rate is ¥128.52/€, the forward exchange rate is ¥124.20/€, the euro interest rate is 2.8% per year, and the yen interest rate is 1.4% per year. Other models suggest that the forward spot will be ¥126.20/€ next year. How much profit in euros does using €10,000,000 in an uncovered interest arbitrage between euros and Japanese yen produce if the model is right about the forward spot? (No currency labels or commas are necessary, round answer to two decimal places)