Concord, Inc. owes $$49,600$ to Ritter Company. How much would Concord have to pay each year if the debt is retired through four

equal payments $($made at the end of the year$),$ given an interest rate on the debt of $12\%?($Round factor values to $5$ decimal places, e$.$g$.$

$1\mathrm{.}25124.$ Round answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}24.)$

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Amount paid each year $