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A new country is created and one bank opens its doors, First Bank. The Federal Reserve prints $278 that ends up at First Bank. Then

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A new country is created and one bank opens its doors, First Bank. The Federal Reserve prints $278 that ends up at First Bank. Then a depositor, John Chen, from another country converts his actually money denominated in yen to dollars and deposits $450. The bank then creates $725 dollars in new loans. What is MO and M1? MO=$278,M1=$728M0=$450,M1=$1453MO=$728,M1=$1453MO=$728,M1=$725

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