What is the net annual cost of the following chequing accounts? a. Monthly fee, $2.75; processing fee, 40 cents per cheque; cheques written, an average of 2 a month; $0.80 per debit transaction over the 20 debit transactions per month that are free with an average of 60 per month made. (Round your final answer to 2 decimal places. Omit the " $ " sign in your response.) Annual cost b. Interest earnings of 4 percent with a $500 minimum balance; average monthly balance, $700; monthly service charge of $14 for falling below the minimum balance, which occurs three times a year (no interest earned in these months). (Round your final answer to 2 decimal places. Omit the " \( \$ " \)quot; sign in your response.) Net cost $