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If a bank had $\$100\text{ million}$ in checkable deposits, $\$50\text{ million}$ in loans already outstanding and $\$50 \text{ million}$ in vault cash, then what is the amount of excess reserves on hand if the central bank required reserve ratio was a flat $10\%$ no matter the size of the bank institution?

A

$\$10 \text{ million}$

B

$\$40 \text{ million}$

C

$\$50 \text{ million}$

D

$\$100 \text{ million}$

E

Not able to be determined from information provided.

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