The average daily reserves at the Fed for the 14-day reserve maintenance petiod have been $33.5 million per doy, and the average vauit cash for the computation period has been estimated to be $2 million per day EXAMPLE 13-2 Computation of Dally Average Required Reserves Consider ABC Hank's reserve manager, who wants to wess the bonk's minimum each reserve requirement taryet. The musager knows the bunk's tet irahsaction accounts belance in the clowe of the banking day en each of the 14 days orer the period Tweiday, Jane 30, to Mondry, Jeby 13. Consider the realued net transaction account positicent of ABC Bank in Table 13-25. The miniman daily imenape reserves that a tank maft maintain is computod as a coegelation perid, Where Iniday's bolances we curied oser for Satiedly and Sondey. The Daily averepent a. What is the amount of the average dally required reserves to be heid by the bank during the maintenance period? ABC Bank in Table 13-25. The minimum daily average reserves that a bank moft maintain is compoted as a perentage of the daily average net trancaction accounts held by the bank over the two-wek computation period, where Friday's talances are carried over for Saturdiay and Sunday. The minimum daily average for ABCB ank to hold against the daily avenage of SI,350.70 million in net transaction accounts is calculated as follows (amounts in millions): Daily average net transaction accounts Reserve percentage = Daily avenge reserves required a. What is the amount of the overage daily required reserves to be held by the bank during the maintenance period? b. Is the bank in compliance with the requirements? Complete this question by entering your answers in the tabs below. Whot is the amount of the average daily required reserves to be held by the bank during the maintenance period? (Do not round your intermediate calculations. Enter your answer in millions rounded to 3 decimal places, (e.9,32.161) )