Suppose that the Bank of Oranges has excess reserves of $80,000,000 and checkable deposits of $500,000,000. If the bank has a reserve requirement of 10 percent, what is the bank's total amount of reserves? Choose one:
A. $130,000,000
B. $30,000,000
C. $580,000,000
D. $0
E. $508,000,000
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