Use the following information to answer the next three questions. Alpha National bank currently has $700 million in transaction deposits on its balance sheet. The current reserve requirement is 5 percent, but the Federal Reserve is planning on increasing it to 7 percent. Alpha converts all excess reserves to loans, and the cash to deposit ratio is 3%. Find the total value of the Alpha's assets (in millions) on the Fed's balance sheet prior to the change in the reserve requirement. Do not use the dollar sign or words when entering your response. QUESTION 3 million dollars. Alpha's reserve deposit with the Fed after the reserve requirement change is 25 35 49 39.2 None of the above QUESTION 4 Find Alpha's loan balance (in millions) after the change in the reserve requirement takes effect. Do not use the dollar sign or words when entering your