You have a loan outstanding. It requires making $5$ annual payments at the end of the next $5$ years of $$$$2$ comma $400$ each. Your bank has offered to restructure the loan so that insted of making the $5$ payments as originally$$ agreed, you will make only one final payment at the end of the loan in $5$ years. If the interest rate on the loan is $7\%,$ what final payment will the bank require you to make so that it is indifferent between the two forms of$$ payment?

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Part $1$

The present value of the cash flows is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

Part $2$

To be indifferent between the two forms of$$ payment, the final payment will be $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$