A CMO has been issued with 3 tranches and a residual. At originations Tranche A investors own 549 million of principal with a coupon rate of 3.50%. Tranche B investors own $11 million of principal with a coupon rate of 3.700, Tranche Zinvestors own 54 million of principal with a coupon rate of 450%. The residual carries 51 million and receives all residual payments. Mortgages backing the security issued are fully amortizing fixed rate with mortgage rate of 4.50% with 30 year maturities and monthly payments. Assume no servicing/guarantee fee and no prepayments. What is the balance on the Z-tranche at the end of the first month (same as the balance at beginning of the second month)2 Round your answers to cents (eg. If your answer is 556000.0444, write 56000.04) A CMO has been issued with 3 tranches and a residual. At originations Tranche A investors own 549 million of principal with a coupon rate of 3.50%. Tranche B investors own $11 million of principal with a coupon rate of 3.700, Tranche Zinvestors own 54 million of principal with a coupon rate of 450%. The residual carries 51 million and receives all residual payments. Mortgages backing the security issued are fully amortizing fixed rate with mortgage rate of 4.50% with 30 year maturities and monthly payments. Assume no servicing/guarantee fee and no prepayments. What is the balance on the Z-tranche at the end of the first month (same as the balance at beginning of the second month)2 Round your answers to cents (eg. If your answer is 556000.0444, write 56000.04)