Senator Maize from Iowa has recently submitted a bill in the state legislature that would reduce the rate of taxation applied to capital in the agricultural sector of the economy. He believes that this bill will not only be good for corn producers, but will also increase the demand for farm implements. As a policy analyst working for the legislative fiscal office, you are given the assignment of writing a summary of the likely impact of this piece of legislation. Use what you know about the general equilibrium effects of a partial factor tax and explain the likely impacts of this tax reduction. (You will have to make an assumption about the factor intensity of the agricultural sector of the economy.)