You are 40 years old and want to retire at age 60. Each year, starting one year from now, you will deposit an equal amount into a savings account that pays 7.75% interest. The last deposit will be on your 60th birthday. On your 60th birthday, you will switch the accumulated savings into a bank account that pays 7.75% interest. You will withdraw your annual income of $13,000 at the end of that year (on your 61st birthday) and each subsequent year until your 80th birthday. After your last annual withdrawal on your 80th birthday, you want to have enough funds remaining to give your children $85,000. How much do you have to save, annually, to make this retirement plan happen? Round your answer to the nearest dollar.