(a) Montague Bank currently has $20 billion in transaction deposits lodged on its balance sheet. The Federal Reserve has currently set the reserve requirement at 7 percent of transaction deposits for U.S banks. The Federal Reserve is revising its monetary policy. If the Federal Reserve decreases the reserve requirement to 5 percent, show the balance sheet of Montague Bank and the Federal Reserve just before and after the full effect of the reserve requirement change. Assume that Montague Bank converts 75 percent of its excess reserves to loans and borrowers return 55 percent of these funds to Montague Bank as transaction deposits.