Petra is starting a small business, and the bank agrees to offer her the following financing: she can borrow $200000 today and $600000 at the end of the first year. She will repay the loan with three payments. The first payment of X will be made at the end of year 3. The next two payments will be at the end of year 4 and the end of year 5, and each one will be double the size of the prior payment (so 2X and 4X). The bank charges 19% compounded 12 times per year.Find X.

a) What is the Present Value of the loan at time t = 0?(to 2 decimals)

b) What is X?(to 2 decimals)