Suppose you borrowed 30,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. How much would you still owe at the end of the first year, after you have made the first payment?

a. 22,112.76

b. 19,118.33

c. 23,034.13

d. 20,961.06

e. 22,343.11