James purchased a new piece of equipment to be used in its new facility. The $$350,000$ piece of equipment was purchased with a $$52,500$ down payment and with cash received through the issuance of a $$297,500,7\%,5-$year mortgage payable issued on January $1,2025.$ The terms provide for annual installment payments of $$72,557$ on December $31.$

Prepare an installment payments schedule for the first five payments of the notes payable. $($Round answers to $0$ decimal places, e$.$g$.125.)$

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