A loan of $120,000 is repayable by means of a sinking fund for 10 years. The interest payment is made at the end of each year at an annual effective rate of interest 6%. The sinking fund yields an effective interest rate of 5% per annum. Suppose the effective interest rate earned by the sinking fund increases to 7% per annum since the sixth year, and the deposits into the sinking fund are level during the loan period of 10 years. Find the level annual sinking fund deposit.