12) An eligible individual may decide to start collecting the Canada Pension Plan (CPP), a monthly retirement pension, at any time between the ages of 60-65. The average life expectancy of a person aged 60 years is another 25 years. If you expect to be paid $1000/ month during your retirement, how much CPP must you have at the time of retirement to receive $1000/ month over the next 25 years of your life? Assume that money is worth 4% compounded monthly