The cash manager of Verematic, Inc., is contemplating the choice between a wire transfer and an EDT. He estimates that his investment opportunity rate is 9%. The bank's ECR is currently 4%, and the reserve requirement is 12%. His bank account officer informs him that a wire transfer will cost $0.30. 

a. Assume that the balances transferred are above the balances required to compensate the deposit bank for its services. Could you calculate the minimum transfer balance required to justify using a wire transfer? 

b. Assume that the balances transferred are below the balances required to compensate the deposit bank. Calculate the minimum transfer balance required to justify using a wire transfer.