A company that manufactures air-operated drain valve assemblies currently has $110,000 available to pay for plastic components over a 5-year period. If the company spent only $42,000 in year1, what uniform annual amount can the company spend in each of the next 4 years to deplete the entire budget? Let i = 13.00% per year. (Round the final answer to three decimal places.)

The uniform annual amount the company can spend is $