Lowife Company defaulted on a $260.000 toan that was due on December 31,2024 . The bank has agreed to allow Lowlife to repay the $260,000 by making a series of equal annual payments beginning on December 31,2025 Required: 1. Calculate the required annual payment if the bank's interest rate is 10% and four payments are to be made. 2. Calculate the required annual payment if the bank's interest rate is 8% and five payments are to be made. 3. If the bank's interest rate is 10%, how many annual payments of $31,702 would be required to repay the debt? 4. If three payments of $89,280 are to be made, what interest rate is the bank charging Lowilfe? Note: For all requirements, Use tables, Excel, or a financial calculator. (FV of \$1. PV of \$1. FVA of \$1. PVA of \$1, EVAD of \$1 and PVAD of \$1) Complete this question by entering your answers in the tabs below. Calculate the required annual payment if the bank's interest rate is 8% and five payments are to be made. Note: Round your final answers to nearest whole dollar amount