A corporation makes a payment of $1.32 million at the end of 2017 for services rendered by a large database company. With an annual interest rate of 16%, what annual payments at the end of years 2017 through 2024 will be equivalent to $1.32 million at the end of 2017 ? Click the icon to view the interest and annuity table for discrete compounding when i=16% per year. The equivalent annual payments are $ (Round to the nearest dollar.)