consider a CMBS with the following characteristics:

-Backed by$20Mmortgages,7%interest,5-yrmaturity,IO annual payments ,no servicer fee

-There are three tranches issued:

• $13M Tranche A(Senior/Investment Grade CMBS)with coupon rate5%
• $7M TrancheB(Junior/Non-investmentGrade CMBS)with coupon rate6%
• IO residual tranche(no extra collateral,but collects extra interest)

Now consider a situation where there is a recession in year 5. The SPV/issuer is only able to collect payments and sell the underlying collateral for a total of $18M. In other words, it only has $18M to disburse to its investors in year 5. In this scenario, what is the cash flow to Tranche B in year 5?