I chose option $2$ and got it wrong. Could you please explain how to get the correct response: Consider the simple bank balance sheet below $($amount in millions of $$).$ Suppose, subsequently, depositors unexpectedly withdraw $$80$ million. Assume the bank cannot borrow new funds and will have to liquidate all of its reserves to meet its payment obligation. For any uncovered amount, the bank will be forced to sell loans worth $$12$ million in a fire sale. Please reconstruct the bank balance sheet after the withdrawal. What will be the new total assets, and what will be the new equity value? Hint: Watch the video for analysis. ASSETS $$ LIABILITY & EQUITY $$ Cash $70$ Deposits $300$ Loans $280$ Equity $($net worth$)50$ Total assets $350$ Total debt & equity $350$ Question $6$ options:

$1)$

Total assets $=$ $$268$ million. Equity $=$ $$48$ million

$2)$

Total assets $=$ $$270$ million. Equity $=$ $$48$ million

$3)$

Total assets $=$ $$270$ million. Equity $=$ $$40$ million

$4)$

Total assets $=$ $$268$ million. Equity $=$ $$38$ million