Consider a sequential pay CMO that is backed by 60 mortgages with average balance of $100,000 each. The mottgages have monehly payments with WAM =15 years and WAC =4%. There is a servicing fee of 0.6% and prepayment is according to 100% PSA. There are three tranches in this CMO tranch A issued for $2,000,000, tranche B issued for $2,000,000, and a Z, bond issued for $2,000,000. How much cash flow do investors in trunche A receive in the first month