Suppose that Person A has $550 (cash). She can put some of this money into a bank account she has with BMO as well as hold a fraction of this money for transaction purposes. Suppose she has a currency drain ratio of 10% or 0.1 and the BMO has a reserve ratio of 20 percent or 0.2. What is the amount of deposits that the BMO will receive from Person A.

A)$495

B)$500

C)$505

D)$510

E) None of the answers is correct.