For the next five questions, you'll use the following data for an economy that has only two banks, Bank A and Bank B. Partial balance sheet information is given for each bank below:
Bank A:
Reserves on hand $38,000
Deposit in the Fed $30,000
US government bonds $12,000
Checking account balances $120,000
Savings account balances $25,000
Bank B:
Reserves on hand $50,000
US government bonds $7500
Savings account balances $20,000
Checking account balances $100,000
In addition, people in this economy hold $8800 in cash, and all banks have the same reserve requirements we've used all semester.
Calculate this economy's monetary base.
Enter only numbers, a decimal point, and/or a negative sign as needed. Round your answer to two decimal places as necessary.