A company wants to establish a sinking fund, beginning at the end of the year. Annual deposits would be made at the end of this year and the following 9 years. If deposits earn interest at the rate of 8% compounded annually, how much money must be deposited each year in order to have an amount of 8 lakhs at the end of the tenth deposit?

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Here = M 8,00,000, i = 0.08 and n = MAX Amount Factor 10.