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A large commercial bank based in Idaho has checkable deposits of $10,101, reserves of $1,205 and its value of loan assets is worth $8,896. A

A large commercial bank based in Idaho has checkable deposits of $10,101, reserves of $1,205 and its value of loan assets is worth $8,896. A customer then opens a new account and deposits $20. After the deposit, assuming the required reserve ratio is 8%, what are the bank's excess reserves?

Group of answer choices

$580.92

$544.44

$415.32

$401.11

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