Mel plans to save $10,300 per year for 5 years. His first savings contribution is expected in 1 year. He then plans to withdraw $17,400 per year for as long as he can. Mel expects to earn 4.12 percent per year. How many payments of $17,400 can Mel expect to receive if his first annual payment of $17,400 is received in 5 years? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).