An agency sequential-pay CMO is backed by a pass-through (of 24-month mortgage contracts) with a par value of $500,000, a pass-through coupon rate of 6%, a weighted average coupon rate (note rate on the underlying mortgages) of 7%, a weighted average maturity of 24 months. Suppose the following tranches are created in this CMO, where tranche A receives principal payment first: tranche Par Coupon

A 200,000 6%

B 200,000 6%

Z-bond (accrual) 100,000 6% Assuming 200 PSA, what is the total principal payment on tranche A in the first month?