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The following net transaction accounts have been documented by a bank for the computation of its reserve requirements ( in millions ) . Tuesday 1

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 $ 340 $ 290 $ 320 $ 300 $ 320 $ 340 $ 310 $ 300 $ 290 $ 280
The average daily reserves at the Fed for the 14-day reserve maintenance period have been $27.2 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?
b. Is the bank in compliance with the requirements?

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