Suppose you invest $270,000 in an annuity that returns constant annual payments over 8 years, with the first payment one year from now. At an interest rate of 5%, how much is the annual payment you receive?Equivalent problem structure (as a borrower): Suppose you borrow $270,000 to be paid back in constant annual payments over 8 years with the first payment one year from now. At an interest rate of 5%, how much is the annual payment? Please round your answer to the nearest hundredth.