Your brother's company has three debts: $7 million in month #5; $8 million in month #12; and $11 million in month #17. You want to pay all debts with two identical payments, one in month #7 and one in month #19. Use a focal date in month #16, a market interest rate of 19% effective annual interest, and a bi-monthly frequency when converting. What is the nominal annual rate convertible bi-monthly that you used? How much is each of the identical payments?

Hint: bi-monthly means every 2 months, so the frequency is 6.