Aloysius, aged 40, purchases a life policy. Before age 60, the death benefit is the sum of the net premiums paid. At age 60 and later, the death benefit is 20,000. Find the net annual premium, payable at the beginning of each year for 20 years, given / — .05, 7V60 = 13,000, Ne\ = 12,010, N^q = 61,000, 7^40 = 31,000 and

/^60- 11,500.