The correct answer is 1225.26. Please show all steps and do not use tables.

6. Daniel is due to retire in 23 years, at which time he will start collecting pension benefits. His employer is scheduled to begin funding Daniel's pension benefits with monthly annual payments starting in one month and ending at the end of 23 years. One plan is to fund the pension account using a level contribution of 1,200. These contributions earn an effective annual interest rate of 7%. Alternatively, Daniel's employer 1 can fund his pension account with level monthly payments of 1,000 for the first 3 years and then level monthly payments of X for the remaining years. The alternative plan earns an effective annual interest rate of 7.2%. Calculate X such that two pension funding plans have exactly the same accumulated value at the end of 23 years