Morgan Hitchcock is $40$ years old today and he wishes to accumulate $$540,000$ by his $65$ th birthday so he can retire to his

summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his $40$ th through his $64$

th birthdays. What annual deposit must Morgan make if the fund will earn $8\%$ interest compounded annually? $($Round factor values

to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Annual deposit $