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Laurier Inc. has borrowed $ 58000 from its bank. The annual interest rate on the loan is 4% compounded annually and the loan is

Laurier Inc. has borrowed $ 58000 from its bank. The annual interest rate on the loan is 4% compounded annually and the loan is to be paid back in 5 equal annual payments. Calculate the amount of the required annual loan payments. Round your answer to the nearest dollar.

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