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[The following information applies to the questions displayed below.] The note about debt included in the financial statements of Healdsburg Company for the year ended

[The following information applies to the questions displayed below.]

The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2015 disclosed the following:

Debt.The following table summarizes the long-term debt of the Company at December 31, 2015. All of the notes were issued at their face (maturity) value.

7.50% notes due 2016 $ 205,400,000
8.00% notes due 2023 $ 349,200,000
8.25% notes due 2030 $ 230,000,000
7.88% notes due 2038 $ 205,000,000
6.80% notes due 2017 $ 25,500,000

Assuming that the notes pay interest annually and mature on December 31 of the respective years. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1andPVAD of $1)(Use appropriate factor(s) from the tables provided.)

Required:

Suppose that Healdsburg renegotiates the 9% notes on December 31, 2021, when the going interest rate is 9%. Healdsburg agrees to make 12 equal annual installments, commencing on December 31, 2022, rather than pay the annual interest payments and the $230 million in a lump sum at maturity. What would the annual payments be?(Enter your answer in whole dollars.)

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