Every two years Smith deposits $800 into a fund that credits interest at a nominal annual rate of 5% compounded semiannually. The first deposit is on his 53rd birthday and the last deposit is on his 65th birthday.

Beginning three months after his 65th birthday and continuing every three months thereafter, he withdraws a level amount that will exactly exhaust the fund on his 79th birthday.

What's the amount of his quarterly withdrawal?