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Let's assume it is white's turn, otherwise black loses by simple opposition. Obviously fe5 loses on bc7 (black opposition). But white can win, as the example shows.
Notice the 'seventh rank rule' is illustrated here: in a one on one race, the attacker wins if he reaches the seventh rank (from his point of view) before his opponent does.
In the final position the black man is on g5. Of course this is one of a number of scenarios, one of which is slightly different: if black keeps the 6-line (e6-f6-g6-h6), white should of course not move to i5 because then 8 ... hi6 would draw. Instead white makes a tempo move on the 5-line, and moves to i5 after black moves to i6, making it his graveyard.
There are several ways to get opposition.