Can you please help me answer the question in the picture below

4. International Monetary Fund data from 2019 indicate that output per-person in the United States was about 30 times higher than output per-person in India. Suppose that the United States taxes capital at rate t, and India taxes capital at rate to. Further, suppose that the before- tax savings rate in each country is the same, such that differences in savings are only due to differences in the tax treatment of capital. In this case, the net (after-tax) savings rate in each country is given by: s USAet = (1 - t)s, s Indiaet = (1 - to )s. Assume production in each country is given by Y = KON1-. Further, assume that population and labor productivity are constant. a. Find the ratio of steady-state output per person in the two countries as a function of the tax rates, t, to, and the capital share, a. b. Suppose that a = 1/3. If t = .1 and to = .9, what is the implied ratio of output per person in the USA to output per person in India? c. Given the ratio you found in part (b.), are taxes on capital likely to be sufficient to explain large difference in standards of living across the two countries? What other factors (not necessarily captured in the model) might come into play