Consider an asset that you purchase for $45,000 today. Its nominal resale value after five years of ownership is $12,000. At that time you plan to sell it and move to a retirement community in Pine Bluffs, Arkansas. The nominal discount rate is 4%. What is the annuity payment occurring at the end of years 1, 2, 3, 4, and 5 that has the same net present value as net present cost if the annuity factor is given by LaTeX: \left(\frac{1- \frac{1}{(1+i)^{\eta}} }{i} ight ) = \left(\frac{1- \frac{1}{(1.04)^{5}} }{.04} ight ) = 4.4518