1.4 (10 points) A bank has a daily average net transaction accounts of $915.53 million for the computation period from August 10 to 23. The average daily balance in the cash account is $51.216 million over this period. The bank is carrying forward a deficit of $1.327 million from the last reserve period. The rules require no reserves to be maintained for the first $14.5 million, 3 percent for amounts between $14.5 million and $103.6 million, and 10 percent thereafter. a. What is the amount of average daily reserves required to be held during the reserve maintenance period for these net transaction accounts balances? b. If the bank had transferred $25 million of its deposits every Friday over the two-week computation period to one of its offshore facilities, what would be the revised average daily reserve requirement? 1.4 (10 points) A bank has a daily average net transaction accounts of $915.53 million for the computation period from August 10 to 23. The average daily balance in the cash account is $51.216 million over this period. The bank is carrying forward a deficit of $1.327 million from the last reserve period. The rules require no reserves to be maintained for the first $14.5 million, 3 percent for amounts between $14.5 million and $103.6 million, and 10 percent thereafter. a. What is the amount of average daily reserves required to be held during the reserve maintenance period for these net transaction accounts balances? b. If the bank had transferred $25 million of its deposits every Friday over the two-week computation period to one of its offshore facilities, what would be the revised average daily reserve requirement