Solve for the annual payments that are equivalent to the following series of payments done by five businessmen, if the interest rate is 16% per annum (USING GRADIENT SERIES FACTORS):

Year 1 2 3 4 5 6 7 8 Timothy 65,000 70,000 75,000 80,000 85,000 75,000 75,000 75,000 Tyron 32,000 32,000 32,000 29,000 26,000 23,000 20,000 17,000 Toni 81,000 72,000 63,000 54,000 54,000 63,000 72,000 81,000 Theresa 44,000 50,000 56,000 62,000 56,000 50,000 44,000 38,000 Xylene 10,000 20,000 30,000 40,000 45,000 50,000 55,000 60,000