note: the 10% is applied after the loan commitments is exercised and the answer is 38.89 but I don't know how to get it

Exercise 2 A bank has the following balance sheet: Assume that the bank must always maintain a minimum equity level of 10% of total assets. (Note: each sub-question is independent of each other, i.e., each sub-question refers to the initial balance sheet): c) What is the maximum amount of loan commitments that can be exercised so that the bank can still have the minimum equity level without raising any external capital (rounded at the second decimal if needed)? Assume that loan commitments are financed by selling securities at 25% of the face value and that deposits cannot be used for recapitalizing the bank. Exercise 2 A bank has the following balance sheet: Assume that the bank must always maintain a minimum equity level of 10% of total assets. (Note: each sub-question is independent of each other, i.e., each sub-question refers to the initial balance sheet): c) What is the maximum amount of loan commitments that can be exercised so that the bank can still have the minimum equity level without raising any external capital (rounded at the second decimal if needed)? Assume that loan commitments are financed by selling securities at 25% of the face value and that deposits cannot be used for recapitalizing the bank