16. You are an assistant to a senator who chairs an ad hoc committee on reform- ing taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs. Moreover, depending on the locale, telecom taxes can amount to as much as 25 percent of a consumer's phone bill. These high tax rates on telecom services have become quite controversial, due to the fact that the deregulation of the tele- com industry has led to a highly competitive market. Your best estimates indi- cate that, based on current tax rates, the monthly market demand for telecommunication services is given by Q = 250 - 5P and the market sup- ply (including taxes) is Q = 4P 110 (both in millions), where P is the monthly price of telecommunication services. The senator is considering tax reform that would dramatically cut tax rates, leading to a supply function under the new tax policy of Q = 4.171P-110. How much money would a typical consumer save each month as a result of the proposed legislation?