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GoodTimes National Bank placed a group of 10,000 consumer loans bearing an average expected gross annual yield of 7.5 percent in a package to be securitized. The investment bank advising GoodTimes estimates that the securities will sell at a slight discount from par that results in a net interest cost to the issuer of 8 percent. Based on recent experience with similar types of loans, the bank expects 3 percent of the packaged loans to default without any recovery for the lender and has agreed to set aside a cash reserve to cover this anticipated loss. Underwriting and advisory services provided by the investment banking firm will cost 0.5 percent. GoodTimes will also seek a liquidity facility, costing 0.5 percent, and a credit guarantee if actual loan defaults should exceed the expected loan default rate, costing 0.6 percent. Please calculate residual income for GoodTimes from this loan securitization.