5. The sanitation department has decided that, due to new construction on the south side of town, the current fleet of garbage trucks is not sufficient to collect the amount of refuse and recycling in the city, and that the city needs to purchase an additional truck. However, the city does not have cash on hand to finance such a purchase, and so it must borrow the money. The purchase price is $175,000, and the manufacturer will provide a loan for this amount at the rate of 8% per year, with payments due at the end of each year over a four-year period. What is the minimum annual loan payment the city can expect to pay? Assume payments need to be made at the end of each year through the four years