Question 17 (5 points) A bank has $296,000,000 in average balances in transactions accounts for the 14-day computation period. The average balance in the cash account (including vault cash) over the corresponding maintenance period was $32,014,000. If the rules require no reserves for the first $5.5 million, 3% for amounts between $5.5 million and $42.8 million, and 10% thereafter, is the bank in compliance with the requirements? Yes, it meets the minimum reserve requirements. Yes, it meets the minimum requirement only after using the 2% carryover allowance. No, it does not meet the minimum reserve requirements