A father decides to establish a savings account for his child’s college education on the day his baby is born. Any money put into the account will earn an interest rate of 8% compounded annually. The father will make a series of annual deposits in equal amounts from the first birthday through the 18th, so that the child can make four annual withdrawals from the account in the amount of $20,000 on each of his 18th, 19th, 20th, and 21st birthdays. Assuming that the first withdrawal will be made on the child’s 18th birthday, calculate the required annual deposit.