Frank's Machine Shop purchased a computer to use in turing engines. To finance the purchase, the company banowed 517,900 at 6% compounded quarterly. To repay the lean, equal monthly payments are made over two years, with the frst payment due one year after the date of the loan, What ls the size of each monthly peyment? The size of each monthly paymont is 1 (Round the final answer to the nearest cent as neoded. Round al intermedale vilues to sx decimal placts as needed.)