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The Omagosh Company purchased office furniture for $30,000 and agreed to pay for the purchase by making three annual installment payments beginning one year from

The Omagosh Company purchased office furniture for $30,000 and agreed to pay for the purchase by making three annual installment payments beginning one year from today. The installment payments include an interest rate 3% compounded annually.

What is the required annual installment payment (rounded to the nearest dollar)?

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