A commercial bank has vault cash of $3 million and reserve deposits at the Fed of $17 million. The bank holds $400 million in transactions deposits that are subject to 5% reserve requirements. If depositors withdraw $2million from transaction deposits, what are the banks excess reserves after this withdrawal?

• A. -$2 million
• B. -$1.9 million
• C. $0.1 million
• D. $15 million