Question 8 0.85 pts Umpqua Bank started its first day of operations with $10 million in capital on September 1, 2020. $180 million in checkable deposits was received. The bank invested in a $80 million commercial loan and $50 million mortgages, with the following term: Mortgages: 250 standard 30-year, fixed-rate with a nominal annual rate of 3.5% each for $200,000. Commercial loan: 5-year loan, simple interest paid monthly at 1.0% per month The bank also purchased $40 million in 30-day T-bills. The T-bills were trading at $990.099 for a $1,000 face value. On September 2, 2020, deposits fell by $5 million. If the required reserve ratio was 10%, what was the bank's shortfall in reserves? O $2,500,000 O $3.000.000 O $5,000,000 O $1,000,000