Assume that a $750 million pool of mortgages backs a new MBS issue. The projected prepayment speed is 200% PSA. 10. What is the single monthly mortality (SMM) rate for the first month? _____ A) 0.03721% B) 0.03338% C) 0.02670% D) 0.02336% Hint: For months 1 t 30 based on 100% PSA, SMM = 1 [1 (100%)(0.2% t)]1/12