IV. (33 pts = 11 x 3 pts)Take the Neoclassical Growth model we studied in class where we had a tax on consumption, labor income, tax on capital income less depreciation, and government spending. Now suppose there is no tax on capital income net of depreciation. There is a tax on investment and there is a tax on interest income. Also, assume that investment is subject to a tax rate as well. The consumer's budget constraint is therefore (1+[c)Ct + (1+Tx)Xt + bt+1 =(1-th)Wthe + rekt + (1+it(1-t;)) bt -Txt (1 + to)Ct + (1 + Tx)Xt + be+1 = (1-th)Wthe + rek+ + (1 + it(1 -t;)be - Txt 1. Which of these is the no arbitrage condition? a. it = It+1 - 6 it = nt - 8 (1 + tx)it = (rt+1 - 8)(1 -Uk) 1+it (1-ti) = nt +(1- 8) C. (1 + Tx)(1+ it) = (1-[x)Tkt+1 + (1-8) 1+it (1-ti) = [rt +(1- 8)](1+[x) d it = (1- TK)It+1 1+1x 1-6 1+it (1-)](1+[x) = re +(1-8) e. f . (1-24 ) + 1-6 g. it+1 = 1t+1 ( 1+Tx)