Daniel is working in the operations management industry and wants to take an IT course for 6 years, starting 6 years from now. Daniel plans to pay himself for this IT course from his wage. The current annual cost of this IT course now is $14,500, and Daniel expects this cost to rise at an annual rate of 4% because of high demand and inflation. Daniel plans for savings, and he assumes that he can earn 5% annual rate of return. How much must Daniel put aside and save each year, starting next year, if he plans to make 5 equal payments? All payments are at year end. Present answer with 2 decimals. please clearly explain