=+b. Apply the formula to the following example: You are about to retire and have $2,500,000 in your retirement fund. You can take it all out as a lump sum, or you can choose to take an annuity that will pay you (and your heirs if you pass away) $x per year (starting next year) for the next 30 years. What is the least x has to be in order for you to choose the annuity over the lump sum payment assuming an interest rate of 6%?