Bank employs three loan officers, each working eight hours per day. Each officer processes an average of five loans per day. The banks payroll cost for all three officers is $900 per day, and there is a daily overhead expense of $1500. The bank is considering the purchase of new computer software for the loan operation. The software will enable each loan officer to process eight loans per day, although the overhead expense will increase to $1900 per day. Moreover, because of difficulty in dealing with the new software, the payroll cost for all three officers will increase to $1200. The current multifactor productivity accounting for both labor cost and overhead is output (loans) = 3 (officers) 5 loans/day = 15 loans = 0.00625 loans/$. input (labor cost + overhead) ($900 + $1500)/day $2400 Solve the following subproblems: (a) If the new software is purchased, the multifactor productivity would be: (b) By purchasing the new computer software, how much does it make an increase of the multifactor productivity in percentage? (c) With the new computer software, in order to achieve 30% of the multifactor productivity increase, how many loans should be processed per each loan officer