Two years from now your company expects to start making $200,000 per year of additional income for 5 years. You are so confident of this income that you convince your corporate office to loan you the money that is equivalent to the total additional income you expect to generate. They loan you the money at 3% annual interest rate compounded quarterly. What are the payments that you will pay each year (year 1 through 7) to pay back the loan?

Round your answer to the nearest $100.