Your company has just taken out a 1-year installment loan for $72,500 at a nominal rate of 11.5% but with equal end-of-month payments. What percentage of the 2nd monthly payment will go toward the repayment of principal?

a. 90.94%

b. 72.03%

c. 96.34%

d. 73.83%

e. 90.04%