The Bello Corporation wishes to accumulate $2,000,000 for plant expansion. The funds are required on January 1, 2011. Bello intends to make five equal annual deposits in a fund that will earn interest at 7% compounded annually. The first deposit is made on January 1, 2006. Present value and future value facts are as follows:

Present value of $1 at 7% for 5 periods	.713
Present value of an ordinary annuity of $1 at 7% for 5 periods	4.10
Future value of an ordinary annuity of $1 at 7% for 5 periods	5.75
Future value of an annuity due of $1 at 7% for 5 periods	6.15

What is the amount of the required annual deposit?