2. Suppose Julia is the U.S. citizen making saving plans for this year and next. She knows her real income after taxes will be $50,000 in both years. Any part of her income saved this year will earn a real interest rate of 10% between this year and next year. Currently, Julia has no wealth (no money in the bank or other financial assets, and no debts). There is no uncertainty about the future. The consumer wants to save an amount this year that will allow her to (1) make college tuition payments next year equal to $16,800 in real terms; (2) enjoy exactly the same amount of consumption this year and next year, not counting tuition payments as part of next year's consumption; (3) have neither assets nor debts at the end of next year. a) How much should Julia save this year? How much should she consume? b) How are the amounts that Julia should save and consume affected if her current income rises from $50,000 to $54,200