The following table lists the sales of the banks in a certain state during a given year. Two banks (City Bank and Hometown Bank) are contemplating the idea of merging. Using your knowledge from chapter 7 , we want to document if the merger will be challenged by the US Department of Justice. 1. Refer to your textbook and describe the carrent Horizontal Merger Guidelines used by the Federal Trade Commission (FTC) and the Antitrust Division of the U.S. Department of Justice (DOJ) to prevent firms from merging into a single firm. 2. Based on the information on the table above, calculate the four-firm concentration ratio and the Herfindahl-Hirschman index in the current market. 3. If City Bank and Hometown Bank were to merge, what would be the post-merger HHI of the banking industry. 4. Based on the FTC and DOJ Horizontal Merger Guidelines described in question 1 from the textbook, do you think the Justice Department is likely to challenge the proposed merger