SCENARIO: IS-LM-FX

Assume that initially the IS curve is given by

IS₁:Y = 12 - 1.5T - 30i + 2G,

Assume as well that the price level P is 1, and the LM curve is given by

LM₁:M = Y(1- i).

And that the forex market equilibrium is characterized by:

i = ([E^e/ E]-1) + 0.10

Finally, assume that T=2, G=1.5, and the home interest rate is 0.2 (i.e. 20%).

What is the level of output according to the IS₁curve?