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The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2023 disclosed he following: 7.30% notes due

The note about debt included in the financial statements of Healdsburg Company for the year ended December 31, 2023 disclosed he following: 7.30% notes due 2024 7.80% notes due 2029 8.05% notes due 2038 7.68% notes due 2043 6.60% notes due 2025 $201,400,000 $ 345,200,000 $ 226,000,000 $201,000,000 $ 25,100,000 The above table summarizes the long-term debt of the Company on December 31, 2023. All of the notes were originally issued at their face (maturity) value and have been gradually repaid over time so that these amounts are the remaining balances at this date. Assume that the notes pay interest annually and mature on December 31 of the respective years. Required: Suppose that Healdsburg renegotiates the 8.05% notes on December 31, 2029, when the going interest rate is 9%. Healdsburg agrees to make 12 equal annual installments, commencing on December 31, 2030, rather than pay the annual interest payments and the $226 million in a single amount at maturity. What would the annual payments be? Note: Use tables, Excel, or a financial calculator. Enter your answer in whole dollars. Round your final answer to nearest whole dollar. (FV of $1, PV of $1. FVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) Annual payments

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