Tyler Switt borrowed $1,100,000 to build a recording studio in his home, The total amount of the debt along with 6% annual interest must be repaid in 18 years. He decides to invest in a debt sinking fund that will be used to retire the debt. The fund eams 9% interest and roquiros him to pay an equal amount each year (end of each year) starting in Year 5 and lasting through maturity. Interest is compounded annually. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Presont Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annulty table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to viow tho Present Value of an Arnulty Due tabie.) Requirement What amount must Tylor Switt contribute each year in order to succosstully retire the debt in 18 years? (Use the present value and future value tables, the formula method, a finarcial calcuialor, or a spreadsheot for your calculations. If using present and fufure valuo tables or the formula mothod, weo factor amounts rounded to five decimal places, 0. Round intermediary currency computations and your final answer to the nearest cent, $.) Tyler 3w mithst contribuso each yoar in order to successfully resine the dobt in 18 years