K a 1 Consider a Solow model in which population is given by N' = N - [1 + n - [E] ] , and where output is produced according to the Cobb-Douglas production function Y = zKaN1 -3. Here. N' is population tomorrow, N is population today, n is a parameter, K is the capital stock today, aE(O,1) is the capital income share, and K 2 is total factor productivity. Moreover, = k is the capital stock per worker. Consumers have one unit of time which they supply inelastically to the market. This means that the labor supply is equal to population. Consumers save fraction 5 of their income, i.e.. S=sY, and consume the rest, i.e., C=(1-s)Y. The capital stock evolves over time according to the following accumulation equation: K' = (1 - d) - K + I, where K' is capital tomorrow, d > 0 is the depreciation rate and | is new investment in capital. In equilibrium, l = S. Let the level of productivity be 2 = 5 and the capital income share be a = 0.34. Let the savings rate be s = 20 percent. the depreciation rate be d = 3 percent, and let n = 0.01. Compute the steady state capital stock in this version of the Solow model. Round your answer to 2 decimal places. The steady state capital stock is D