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A CMO has been issued with 3 tranches and a residual. At origination: - Tranche A investors own $70 million of principal with a coupon

A CMO has been issued with 3 tranches and a residual. At origination: - Tranche A investors own $70 million of principal with a coupon rate of 3.50%. - Tranche B investors own $20 million of principal with a coupon rate of 3.70%. - Tranche Z investors own $8 million of principal with a coupon rate of 4.50%. The residual carries $1 million and receives all residual payments. Mortgages backing the security issued are fully amortizing fixed rate with mortgage rate of 4.50% with 30 year maturities and monthly payments. Assume no servicing/guarantee fee and no prepayments. How much cash flow do investors in the Z-tranche receive in the first month? Round your answers to two decimal points

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