Question: You just borrowed $ 8 9 , 1 5 9 . You plan to repay this loan by making X regular annual payments of $

You just borrowed $89,159. You plan to repay this loan by making X regular annual payments of $11,240 and a special payment of special payment of $47,500 in 4 years. The interest rate on the loan is 15.63 percent per year and your first regular payment will be made today. What is X?
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