There is $250 million of a 30 year mortgage with a coupon payment of 9 percent per year and paid monthly.

Construct 3 tranches of A with a coupon payment of 10 percent per year and least prepayment protection, B with a coupon payment of 9 percent per year, and C with equal amount of $50 million and the most prepayment protection. What is the coupon payment of Tranche C so that the mortgage above could be used as a collateral against the monthly payments of these three tranches?

How are the cash flows distributed if the monthly payment of $1450,000 is received in the first month?