Write the Nernst equation of the following cell at 298 K and calculate its electromotive force.
\( \text{Mg(s)} \mid \text{Mg}^{2+}\,(0.001\,M) \parallel \text{Cu}^{2+}\,(0.0001\,M) \mid \text{Cu(s)} \)
Given: \( E^\circ_{Mg^{2+}/Mg} = -2.37\,V \) and \( E^\circ_{Cu^{2+}/Cu} = 0.34\,V \). (4)