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Anderson Manufacturing Co., a small fabricator of plastics, needs to purchase an extrusion molding machine for $160, 000. Kersey will borrow money from a bank

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Anderson Manufacturing Co., a small fabricator of plastics, needs to purchase an extrusion molding machine for $160, 000. Kersey will borrow money from a bank at an interest rate of 11% over five years. Anderson expects its product sales to be slow during the first year, but to increase subsequently at an annual rate of 6%. Anderson therefore arranges with the bank to pay off the loan on a "balloon scale", which results in the lowest payment at the end of the first year and each subsequent payment being just 6% over the previous one. Determine the five annual payments. Fill in the table below. (Round to the nearest dollar.)

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