$\text { University National Bank Balance Sheet Assets}\quad \text { Liabilities }$

$\text { University National Bank Balance Sheet Assets}\quad \text { Liabilities }$
$\begin{array}{|lc|lc|}\hline \text { Reserves } \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad & \$ 320 &\text { Deposits }&\$440\\\text { Loans }&\$120\\\text { Total assets } & \$ 440&\text { Total liabilities }&\$440 \\\hline\end{array}$
-The above table has the balance of the University National Bank. All figures are in millions of dollars. The desired reserve ratio is 20 percent. What is the value of excess reserves held by the University National Bank?

A) $120 million
B) $760 million
C) $232 million
D) $320 million