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Payments of $3,200, due 60 days ago, and $3,700, due in 50 days, are to...

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Accounting

Payments of $3,200, due 60 days ago, and $3,700, due in 50 days, are to be replaced by payments of $3,600 due today and the balance due in 40 days. What must the second payment be if the payee is to end up in an equivalent financial position? Money now earns 8.55%. Use 40 days from now as the focal date. (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.) Second payment $

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