Suppose you borrowed $15,000 at an annual interest rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe (that is, principal) in the first year?

$2,404.91

$2,790.96

$2,658.06

$2,930.51

$2,531.49