An investor has 40,000 that he can invest today. In addition to this amount, he can also invest $15,000 per year for 18 years (beginning one year from now) at which time he will retire. He plans on living for 25 years after he retires. If interest rates are always 4 percent, what size annual annuity payment can He obtain for his retirement years? (All annuity payments are at year-end Round your answer to the nearest dollar)