Samuel Survivor is planning to save for retirement 35 years from now. He expects to live 25 years beyond that, and would like an annual retirement income of $38,500 after tax of 3096. What is the lump sum needed to fund retirement, at an expected annual return of 11.296? A $357,888 B. S319,561 C 456,515 D. $479,118 E None of the above

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter15: Choice Of Business Entity—other Considerations
Section: Chapter Questions
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Samuel Survivor is planning to save for retirement 35 years from now. He expects to live 25 years beyond
that, and would like an annual retirement income of $38,500 after tax of 309%. What is the lump sum
needed to fund retirement, at an expected annual return of 11.2%?
A. S357,888
B. $319,561
C. $456,515
D. $479,118
E. None of the above
Transcribed Image Text:Samuel Survivor is planning to save for retirement 35 years from now. He expects to live 25 years beyond that, and would like an annual retirement income of $38,500 after tax of 309%. What is the lump sum needed to fund retirement, at an expected annual return of 11.2%? A. S357,888 B. $319,561 C. $456,515 D. $479,118 E. None of the above
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