A CMO has been issued with 3 tranches and a residual. At origination:

- Tranche A investors own $38,885,098 of principal with a coupon rate of 3.50%.

- Tranche B investors own $17,689,323 of principal with a coupon rate of 3.70%.

- Tranche Z investors own $6,451,155 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.

What is balance on tranche B at the end of the first month (same as the balance at beginning of the second month)? Round your answers to cents (e.g. if your answer is $56000.0444, write 56000.04).