A bank has $4 million in liquid assets and $96 million in nonliquid assets. Large depositors unexpectedly withdraw $9 million in deposits. To cover the withdrawals the bank sells all of its liquid assets at book value but must sell $7 million at less than their book value of their nonliquid assets to raise the additional funds needs. As a result the bank's equity will _____________.

a.

rise $7 million.

b.

remain unchanged.

c.

fall $2 million.

d.

fall $3 million.

e.

fall $5 million.