James Kinchen has a 1-year ARM for $100,000 over a 30-year term. The margin is 2% and the index rate starts out at 2.7% and increases to 5.0% at the first adjustment. The balance of principal at the end of the first year is $98,443.91. The ARM includes a periodic rate cap of 2% per adjustment period. What is the monthly payment adjustment at the end of the first year? The monthly payment adjustment at the end of the first year is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to the nearest cent as needed.)