ngus Bank holds no excess reserves but complies with the reserve requirement. The required reserves ratio is 99%, and reserves
are currently $2727 million. The amount of deposits is $300300 million. (Round your response to one decimal place.) The reserve shortage created by a deposit outflow of $55 million is $negative 4.55−4.55 million. (Round your response to two decimal places.) The cost of the reserve shortage if Angus Bank borrows in the federal funds market (assume the federal funds rate is 0.250.25%) is $
