A CMO is being issued with 2 tranches: - Tranche A has $7 million in principal and a 3.3% coupon. - Tranche B has $3 million in principal and a 2.2% coupon. The mortgages backing the security issued are FRM at a mortgage rate of 6.4% with 10 year maturities and annual payments. There is no guarantee/servicer fee. Prepayment is assumed to be 5% CPR. In year 1, what is the cash flow to investors in Tranche B? Round your answer to two decimal points (e.g. if your answer is $50,999.4532, write 50999.45).