1. Megan turned 30 today and plans to retire at age 55, which is 25 years from today. She plans to save $12,000 end of each year for the next 25 years towards her retirement. She expects to receive a return of 6% per year. She expects to live until age 95. Under these assumptions, how much can she withdraw at the end of each of her 40 years in retirement (that is withdraw from age 56 to 95).

A. $43,491.44

B. $43,756.56

C. $145,278.25

D. $47,179.49

E. $41,279.77

F. $46,893.63

Please show work