(9 points) Mark owns a perpetuity-immediate that pays 4000 per year. Immediately after the fifth payment, the perpetuity is exchanged for two annuity-immediates where one annuity is given to each of Mark's kids: David and Sue. David will receive a 10-year annuity-immediate that will pay X each year. Sue will receive a 20-year annuity-immediate that will pay semi- annual payments that are $500 less than the yearly payments that David receives. Assuming an annual effective rate of interest of 8% for all annuities, calculate the annual payment that David receives.