Mrs. Bautista is a chief financial officer of TCB Catering Services. He is proposed to the company that they offer a retirement plan for a company employee who is now 55 years of age. The plan will provide an annuity due of $7,000 every year for 15 years upon retirement at the age of 65. The company is funding the plan with an annuity due of 10 years. If the rate of interest per year is 5%, what is the amount of installment that the company should pay to fund this retirement.