Your money is tied up and you need to borrow $ 10,000. The following two alternatives are being offered by the lender: ( 1) pay $ 3,288.91 at the end of each year for 5 years, starting at the end of the first year ( 5 payments total at 18 percent nominal per year compounded quarterly which equates to 19.25% effective); or ( 2) pay $ X at the end of each quarter for 5 years, starting at the end of the first quarter ( 24 payments total at 18 percent nominal per year compounded quarterly). Determine the value of $ X that will make Alternative 2 equally desirable to Alternative 1 if your TVOM is 8 percent nominal per year compounded quarterly.