Suppose you invest $$290,000$ in an annuity that returns $7$ annual payments, with the first payment one year from now and each subsequent payment growing by $4\%.$ At an interest rate of $6\%,$ how much is the first annual payment you receive?

Equivalent problem structure $($as a borrower$)$: Suppose you borrow $$290,000$ to be paid back over $7$ years with the first payment one year from now and each subsequent payment growing by $4\%.$ At an interest rate of $6\%,$ how much is the first annual payment?

Please round your answer to the nearest hundredth.