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8. For this table, assume that all banks observe the same desired reserve ratio. Also assume that the banks are listed in sequential order (thus

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8. For this table, assume that all banks observe the same desired reserve ratio. Also assume that the banks are listed in sequential order (thus the loans from the First National Bank become the deposits for the Second National Bank, and the loans from the Second National Bank become the deposits for the Third National Bank, and so on). Also, the bank's balance sheets must always be balanced Table: Multiple Deposit Expansion First National Bank Loans S368.000 Second National Bank ASSETS Required reserves Deposts IABILITIES TOTAL TOTAL Third National Bank Loans TOTAL TOTAL Refer to the table. For the multiple deposit expansion process described in this table, what is the maximum amount of loans that the Second National Bank can make if it observes the same reserve ratio as First National Bank? $311,475.20 $338,560 $308,089.60 $30,470.40

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