A corporation makes a payment of $1.25 million at the end of 2017 for services rendered by a large database company. With an annual interest rate of 18%, what annual payments at the end of years 2017 through 2022 will be equivalent to $1.25 million at the end of 2017?
a) $333,333
b) $250,000
c) $275,000
d) $300,000
