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Knutson Corporation needs to save $12 million to retire a $12 million mortgage that matures on this date in 2030. To retire this mortgage, the company plans to put a fixed amount into an account each year for eight years, with the first payment occurring today. Knutson Corporation expects to earn 7 percent annually on the money in this account. Find the equal annual contribution must it make to this account to accumulate the $12 million by this date 2030