A father is planning a savings program to put his daughter through college. His daughter is now 13 years old and he anticipates that he needs to save $ 76,383 for tuition, books and board when his daughter begins college. The daughter recently received $ 9,453 from her grandfather's estate which will also be used to help meet the cost of her education. Assume the father wishes to make 5 equal deposits to a money market account paying 8 percent interest compounded annually. He will make his first deposit one year from today and his last deposit the day she starts college. What will his annual deposits be?

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