Suppose that a lottery winner deposits $8 million in cash into her transactions account at the Bank of America (B of A). Assume a reserve requirement of 20 percent and no excess reserves in the banking system prior to this deposit. Instructions: Round your responses to two decimal places. a. Use the following T-account to show how her deposit initially affects the balance sheet at B of A. Answer is not complete. Step 1. Bank of America Assets (in millions) Liabilities (in millions) Reserves Deposits $ 8.00 Required 1.60 EXCESS Loans Total Total assets $ $ 8.00 6.40 8.00 abilities b. Has the money supply been changed by her deposit? No o c. Use the following T-account to show the changes at B of A after the bank fully uses its new lending capacity. Step 2 - Bank of America Assets (in millions) Liabilities (in millions) Reserves Deposits Required Excess Loans Total assets Total liabilities d. Has the money supply been changed by step 2? Yes o e. After the entire banking system uses the lending capacity of the initial ($8 million) deposit, by how much will the following have changed? Total reserves: $ million (II) Total deposits: $ million (ii) Total loans: $ million (iv) The money supply: $ million