Below is the balance sheet of a bank. The reserve requirement is 3 percent on the first $30 million of transaction accounts and 10 percent on transaction accounts in excess of $30 million.

Bank Balance Sheet (Amounts in millions of dollars)
Assets	Liabilities + Capital
Reserves 15.9	Transaction accounts 180.0
Securities 34.1	Capital 20.0
Loans 150.0
Total Assets 200.0	Total liabilities + capital 200.0

A. Calculate the bank's excess reserves.

B. Suppose that the bank sells $5 million in securities to get new cash. Draw up the bank's balance sheet after this transaction. What are the bank's excess reserves?

C. Suppose that the bank makes a loan to a customer of an amount equal to the amount of its excess reserves from part b. Draw up the bank's balance sheet before the cusotmer spends the proceeds of the loan. What are the bank's excess reserves?

D. Now suppose that the customer spends the proceeds of the loan. Draw up the bank's balance sheet, and calculate its excess reserves.