Armando, age 35, starts contributing $10,000 at the end of each year to a fixed annuity that earns 4.5% interest. Armando wants to stop working at age 65.

If he contributes $10,000 each year into the annuity, earns the same 4.5% interest rate during retirement, uses a single-life payout option (age 90 is the projected death age), what will he receive at the beginning of each year from his annuity? (make sure you switch to begin mode on your calculator).

Answer with a positive number, round to the nearest dollar.