$($Related to Checkpoint $6\mathrm{.}1)($Annuity payments$)$ A firm borrows $$45,000$ from the bank at $15$ percent

compounded annually to purchase some new machinery. This loan is to be repaid in equal annual

installments at the end of each year over the next $5$ years. How much will each annual payment be$?$

The amount of each annual payment will be $$.($Round to the nearest cent.$)$