Answer the question on the basis of the given consolidated balance sheet of the commercial banking system. Assume that the reserve requirement is 10 percent. All figures are in billions. Assets Liabilities & Net Worth Reserves $60 Checkable Deposits $600 Securities 140 Stock Shares 260 Loans 260 Property 400 Suppose the Fed bought $20 billion of U.S. securities from the banks. This would Multiple Choice reduce bank reserves to $40 billion, increase bank-held securities to $160 billion, and, assuming a full money multiplier effect, increase the money supply (checkable deposits) by $200 billion. increase bank reserves to $80 billion, reduce bank-held securities to $120 billion, and, assuming a full money multiplier effect, increase the money supply (checkable deposits) by $200 billion. reduce bank reserves to $40 billion, increase bank-held securities to $160 billion, and, assuming a full money multiplier effect, decrease the money supply (checkable deposits) by $200 billion. increase bank reserves to $80 billion, reduce bank-held securities to $120 billion, and, assuming a full money multiplier effect, decrease the money supply (checkable deposits) by $200 billion. Suppose that Third National Bank has reserves of $20,000 and checkable deposits of $200,000. The reserve ratio is 10 percent. The bank sells $5,000 in securities to the Federal Reserve Bank in its district, receiving a $5,000 increase in reserves in return. Instructions: Enter your answer as a whole number. What level of excess reserves does the bank now have?