called for the salary to be paid in $25$ equal installments, with the first payment being made on July $1,2011.$ The agreement stipulated that the relevant interest rate applied to this deal would be $8\mathrm{.}7\%.$

Beginning on July $1,2011($and every July $1$ for the following $24$ years$),$ how much was Bobby Bonilla paid by the Mets? In other words, what is the value of each annual salary installment?

$($Please note: The details of the above agreement have been altered slightly from the actual scenario presented in the weekly lecture.$)$

The annual salary installment paid to Bobby Bonilla each year, beginning on July $1,2011,$ is:

$($round your answer to the nearest dollar$)$