Scheduled payments of ​$1700 due in six months with interest at 8.2​% compounded quarterly and ​$1200 due in 27 months with interest at 8.2​% compounded quarterly are to be replaced by two equal payments. The first replacement payment is due today and the second payment is due in three years. Determine the size of the two replacement payments if interest is 7​% compounded monthly and the focal date is today.
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Part 1
The size of the two replacement payments is ​$

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​(Round to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)