16. The Bank of Glendon has excess reserves of $1,000. The reserve requirement coefficient for all banks in the banking system is 20% while the cash drainage coefficient is 33%. The following table shows you the first cycle of the money creation process that results from the initial deposit of $1,000. than the a. Describe the next three cycles of this money creation process by completing table b. What is the total increase in the mass of money after these 4 stages? Bank Initial deposit Reserves = new bonds. New| New loans New | Increase in mass Excess reserves cash on deposit reserves currency circulation 1 1000 1000 1000 250 750 1000 3 4 019