The following net transaction accounts have been documented by a bank for the computation of its reserve requirements (in millions).

	Tuesday 11th	Wednesday 12th	Thursday 13th	Friday 14th	Monday 17th	Tuesday 18th	Wednesday 19th	Thursday 20th	Friday 21th	Monday 24th
Net transaction accounts	$350	$300	$330	$310	$330	$350	$320	$310	$300	$290

The average daily reserves at the Fed for the 14-day reserve maintenance period have been $28.7 million per day, and the average vault cash for the computation period has been estimated to be $2 million per day.

a.	What is the amount of the average daily required reserves to be held by the bank during the maintenance period? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places. (e.g., 32.161))

Average daily required reserves

$ million

b.

Is the bank in compliance with the requirements?

	Yes
	No