Spectra Scientific of Santa Clara, CA$,$ manufactures Q$-$switched

solid state industrial lasers for LED substrate scribing and

silicon wafer dicing. The company got a $$54$ million loan to be

repaid over a $8-$year period at $11\%$ per year interest. Determine the

amount of the unrecovered balance of the principal immediately

after the first payment.$$The amount of the unrecovered balance of the principal

immediately after the first payment is $