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

Tranche A investors own $9,184,763 of principal with a coupon rate of 3.50%.

- Tranche B investors own $9,225,759 of principal with a coupon rate of 3.70%. -

Tranche Z investors own $7,693,300 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