The average daily net transaction accounts of a local bank during the most recent reserve computation period is $623 million. The amount of average daily reserves at the Fed during the reserve maintenance period is $35.76 million, and the average daily vault cash corresponding to the maintenance period is $14.01 million. What is the average daily reserve balance required to be held by the bank during the maintenance period? $62.34 million $47.79 million $54.64 million $60.53 million $40.12 Million