Division 7A minimum yearly repayment

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This is a benchmarking hypothetical, not tax advice. Figures are as at FY2025-26. A private company makes a loan of $50,000 to a shareholder. The loan is a complying loan under Division 7A: it is unsecured, so the maximum term is 7 years, and the loan is put on complying terms in the year it is made. For this calculation use a Division 7A benchmark interest rate of 8.77% and a remaining loan term of 7 years. The minimum yearly repayment is the amount that fully amortises the loan over the remaining term at the benchmark rate, that is: MYR = P * r / (1 - (1 + r) ^ -n) where P is the loan balance, r is the benchmark rate, and n is the remaining term in years. State, in dollars, the minimum yearly repayment for the first year (round to the nearest cent). Name the controlling authority for the Division 7A minimum yearly repayment rule.