4. Consider a hypothetical economy.r in which banks hold borrowed reserves (BR) according to the following relation: EFSER-hl: ------------ {1) MB In equation (1) above, R and b are respectiver the market interest rate and the bank rate {measured in fractional units) and MB is the total monetary base (i_e_:, highpowered money]. If nonborrowed reserves {NBR} are $993 billion, the bank rate= 2-5 percent and the market rate of interest is 5.1:! per cent, calculate the value of borrowed reserves {13ij the value of the total monetary.r base (MB)