On January 1, an insurance company has 100,000 which is due to Linden as a life insurance death benefit. He chooses to receive the benefit annually over a period of 15 years, with the first payment immediately. The benefit he receives is based on an effective interest rate of 4% per annum. Every July 1, the insurance company pays 100 in expenses and taxes to maintain the policy. At the end of nine years, the company has X remaining. Calculate X.