MYR = $50,000 × 0.0877 / (1 − (1 + 0.0877)^−7)  
= $4,385 / (1 − 1.0877^−7)  
= $4,385 / 0.444817...  
= $9,857.984869...

Minimum yearly repayment for the first year: **$9,857.98**.

Controlling authority: **Income Tax Assessment Act 1936 (Cth), Division 7A, s 109E**, administered by the Australian Taxation Office.