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$[$The following information applies to the questions displayed below.$]$

On January $1,$ Boston Company completed the following transactions $($use a $7\%$ annual interest rate for all transactions$)$: $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Promised to pay a fixed amount of $$6,100$ at the end of each year for eight years and a one$-$time payment of $$115,200$ at the end of the $8$th year.

Established a plant remodeling fund of $$490,150$ to be available at the end of Year $9.$ A single sum that will grow to $$490,150$ will be deposited on January $1$ of this year.

Agreed to pay a severance package to a discharged employee. The company will pay $$75,100$ at the end of the first year, $$112,600$ at the end of the second year, and $$150,100$ at the end of the third year.

Purchased a $$170,500$ machine on January $1$ of this year for $$34,100$ cash. A five$-$year note is signed for the balance. The note will be paid in five equal year$-$end payments starting on December $31$ of this year.

$4-$a$.$ In transaction $($d$),$ what is the amount of each of the equal annual payments that will be paid on the note?

$4-$b$.$ What is the total amount of interest expense that will be incurred?

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