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Word Problem 20-24 [LU 20-3(1)] A local Dunkin' Donuts franchise must buy a new piece of equipment in 6 years that will cost $95,000. The

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Word Problem 20-24 [LU 20-3(1)] A local Dunkin' Donuts franchise must buy a new piece of equipment in 6 years that will cost $95,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 12% interest? (Do not round intermediate calculations. Round your answer to the nearest cent.) Quarterly deposit

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