On January $1,2025,$ Oriole Company leased equipment to Pharoah Corporation. The following information pertains to this lease.

$1.$ The term of the non$-$cancelable lease is $6$ years. At the end of the lease term, Pharoah has the option to purchase the equipment for $$2,000,$ while the expected residual value at the end of the lease is $$9,000.$

$2.$ Equal rental payments are due on January $1$ of each year, beginning in $2025.$

$3.$ The fair value of the equipment on January $1,2025,$ is $$185,000,$and its cost is $$120,000.$

$4.$ The equipment has an economic life of $8$ years. Pharoah depreciates all of its equipment on a straight$-$line basis.

$5.$ Oriole set the annual rental to ensure a $6\%$ rate of return. Pharoah$$s incremental borrowing rate is $8\%,$ and the implicit rate of the lessor is unknown.

$6.$ Collectibility of lease payments by the lessor is probable.

Both the lessor and the lessee$$s accounting periods end on December $31.$

Calculate the amount of the annual rental payment. $($Round answer to $0$ decimal places, e$.$g$.$

$5,275.)$