Joe and Sarah Fabozzi are saving for the college education of their newborn daughter (born today), Beth. The Fabozzi's estimate that college expenses will run $55,000 per year when their daughter reaches college in 18 years. In other words, the first withdrawal will be made on Beth's 18th Birthday, and the last payment will be made on Beth's 17th Birthday. The expected interest rate while saving and in college is 10%. The first deposit will be made one year from today. Calculate the annual payment the Fabozzi's must make to the account so their daughter will be supported through four years of college