All of Someland's banks have a total money supply of $1,000,000 and the reserve to deposit ratio is 0.35. If all the currency is held by the banks only (none held by the citizens of Someland) and the currency is held as reserves, how much currency are the banks holding in reserves?

$35,0000

$35,000,000

$2,857,143

$1,000,000.35

Please put calculations