Suppose that a customer takes out an amortized loan of size L which has an annual effective interest rate of $8\%.$ The loan has a term of $10$ years with ten equal size annual payments of size K made at the end of each year starting one year after the loan is issued. If the loan was instead repaid over the same period of time$)$ using the sinking$-$fund method where the sinking$-$fund gains an annual effective interest rate of $6\%,$ then the total annual outlay $($interest payment on the loan plus deposit into the

sinking fund$)$ would be $1200.$

Find the value of K$.$ Give your answer rounded to two decimal places $($i$.$e$.$ X$.$XX$).$