Rudy Corporation is looking to purchase a building costing $430,000. They agree to make annual payments to the bank for the next eight years to pay off their debt. The first payment is due one year after the purchase date. Rudy's incremental borrowing rate is 10%, compounded annually.

Determine the amount of each annual payment.

(FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) (If using your calculator, pick the answer that is closest to the one you calculate, as there may be slight variation in rounding.)