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A pool of mortgages contains 3.75%, 30- year loans with the total beginning balance of $100 million. The pool backs 107 principal-only (PO) shares and

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A pool of mortgages contains 3.75%, 30- year loans with the total beginning balance of $100 million. The pool backs 107 principal-only (PO) shares and 102 interest-only (IO) shares. Monthly expenses and fees amount to 0.05% of the beginning-of-the-month balance (they are subtracted from the interest portion). In the first month, the total payments from the pool were $479.9 thousand. What was the cash flow per IO share (to the nearest dollar)? Assume no defaults

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