The following net transaction accounts have been documented by a bank for the computation of its reserve requirements (in millions). The average dally reserves at the Fed for the 14-day reserve maintenance period have been $23.8 million per day, and the average vault cash for the computation period has been estimated to be $3 million per day. EXAMPLE 13-2 Computation of Dally Average Required Reserves Consider ABC Bank's reserve manager, who wants to assess the bank's minimum cash reserve requirement target. The manager knows the bank's net transaction accounts balance at the close of the banking day on each of the 14 days over the period Tucsday. June 30, to Monday. July 13. Consider the realued net transaction account positions of ABC Bank in Table 13-25. The minimum daily average reserves that a bank mugt maintain is computed as a perwentage of the daily average net traneaction accounts held by the bank over the two-week computation period, where Friday's balances are carried over for Saturday and Sunday. The minimum daily average for ABC Bank to hold against the daily average of $1,350.70 million in net trancaction accounts is calculuted as follows (amounts in millions): Daily average net trunsaction accounts x Reserve persentage = Daily average reserves required a. What is the amount of the average dally 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. What is the amount of the average daity required reserves to be heid by the bank during the maintenance period? (Do not round your intermediate calculations. Enter your answer in militions rounded to 3 decimal places. (e,9.32.161) )