Assets $($millions$)$

Liabilities & Equity $($millions$)$

Cash $($Reserves$)14$ Demand Deposits $80$

Fed Deposits $10$ NOW Accounts $60$

US Treasuries $30$ CDs $100$

Loans $306$ Other Borrowings $120$

Other Assets $40$ Capital $40$

Total Assets $400$ Total Liabilities & Equity $400$

Use the table to answer the following questions. What would be the value of the Excess Reserves on the Net Liquidity Statement if the institution is required to hold $5\%$ in reserves $?$

Group of answer choices

$2,000,000$

$12,000,000$

$17,000,000$

$24,000,000$