Present and future value tables of $1 at 3% are presented below: N FV $ 1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 | 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 | 3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3091 4.57971 5.46844.71710 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 17 1.22987 0.81309 7.6625 6.23028 7.89236.41719 8 | 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 19 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 | 1.34392 0.74409 11.4639 8.53020 11.80788.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 | 12 | 1.42576 0.70138 14.1920 9.95400 14.6178 | 10.25262 13 | 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400 | 14 | 1.51259 0.66112 | 17.0863 | 11.29607 17.5989 11.63496 15 1.55797 0.64186 18.5989 | 11.93794 | 19.1569 | 12.29607 16 | 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 Micro Brewery borrows $370,000 to be repaid in equal installments over a period of four years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment