Suppose you borrowed $75,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would you reduce the amount you owe in the first year? a. $18,807.85 b. $19,852.73 c. $16,892.23 d. $18,633.70 e. $17,414.67