5. A commercial bank has provided the following financial information. $ 584.976 M 43.76 M Average daily net transaction accounts balance during the reserve computation period Average daily reserves held with the Federal Reserve during the reserve maintenance period Average daily vault cash during the reserve maintenance period Reserve carry forward 7.53 M OM a. Calculate the amount of reserves that bank must maintain with the Federal Reserve. (6 points) b. is the bank undershooting or overshooting the reserve target? Support your response. (3 points)