Table 10-4 The following information pertains to the Bank of Kingston.

Assets:Liabilities:

Reserves$12 000Deposits$240 000

Loans$228 000

Refer to the Table 10-4. Assume that all other banks hold only the required 4 percent of deposits as reserves, and that people hold only deposits and no currency. If the Bank of Kingston decides to hold reserves of 4 percent, by how much would the economy's money supply increase?