Problem 1 (20 points) A Bank in Nevada has estimated that its average daily demand deposit balance over the recent 14-day computation period was $300 million. The average daily balance with the Fed over the 14-day maintenance period was Sio million, and the average daily balance of vault cash over the two-week computation period was $10 million a) Under the rules effective in 2020 (incremental reserve requirements for transaction accounts: First $16.9 million is 0.0%, From $16.9 million to $1275 million is 3.0%; >$127.5 million is 10.0%), what amount of average daily reserves is required to be held during the reserve maintenance period for these demand deposit balances? (10 points) b) If the bank had transferred S100 million of its deposits every Friday over the two-wock computation period to one of its off-shore facilities, what would be the revised average daily reserve requirement? (10 points)