Twelve years ago, XYZ Credit Union made a loan to ABC $,$ Inc. for $$200,000$ at $6\%,$ compounded annually,

payable in equal annual payments over a $20$ year period. The first payment occurred one year after the loan was

made. Loan rates are currently low, and $\frac{?}{\text{b}\text{a}\text{r}}(ABC),$ Inc. wants to refinance the loan. Given a refinance based on annual

payments over the remaining $8$ years of the loan and a refinance rate of $3\mathrm{.}6\%,$ compounded monthly, ABC's new

equal annual loan payment is closest to $...$ Assume all refinance charges are paid at the time of refinance $($i$.$e$.,$ they

are not included as a portion of the principal amount of the new loan$).(5)$