On January 1, 2015, Canden Company started to make annual deposits in order to accumulate $1,500,000 by January 1, 2019. This fund will earn annual interest of 8%.

Required:

What are the four annual deposits that Canden should make at the beginning of each year. Round your answers to the nearest whole dollar.

NOTE: Be sure to show all your calculations. This has the possibility of partial credit. Incorrect answers without calculations will automatically result in zero points.

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