On an annual renewable lease, the semi-annual lease payment on office space is $5,300 payable at the begining of every six months. What equivalent yearly payment made in advance would satisfy the...

Extracted text: On an annual renewable lease, the semi-annual lease payment on office space is $5,300 payable at the begining of every six months. What equivalent yearly payment made in advance would satisfy the lease if interest is 8.8% compounded semi-annually? The equivalent yearly payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)