Minimum yearly repayment for the first year:

\[
\text{MYR} = \frac{50{,}000 \times 0.0877}{1 - (1.0877)^{-7}}
\]

\[
= \frac{4{,}385}{1 - 0.55518286\ldots}
= \frac{4{,}385}{0.44481713\ldots}
= 9{,}857.9848\ldots
\]

\[
\boxed{\$9{,}857.98}
\]

Controlling authority: **Income Tax Assessment Act 1936 (Cth), Division 7A (s 109E)**.