Larry purchased a new combine that cost $270,500, minus a rebate of $4,500, a trade-in of $7,500, and a down payment of $9,000. He takes out a loan for the balance at 8% APR over 4 years. Find the...

Larry purchased a new combine that cost $270,500, minus a rebate of $4,500, a trade-in of $7,500, and a down payment of $9,000. He takes out a loan for the balance at 8% APR over 4 years. Find the annual payment. (Simplify your answer completely. Round your answer to the nearest cent.)