Please show formula and solve.

016: 00.97%, 20.86 of 24 Part 2 of 3 X Points: 0 of 1 Consider the following information for a country: Consumption Function: C = 85 + 0.8Y Investment Function: | | = 85 Government Spending: G=60 on Net Taxes: T = -50 +0.25Y Disposable Income: Yo FY-T hi Equilibrium: YEC+I+G tio The level of equilibrium income, Y, = $ 675.00 . (Enter your response rounded to two decimal places.) The amount of taxes collected by the government at equilibrium, T, = $ . (Enter your response rounded to two decimal places.) es ues