12. An investor has $500,000 and is seeking advice on the best strategy to invest for the long term. In speaking to a financial advisor the investor realizes that using a tax efficient strategy such as putting the money into a tax sheltered IRA -it is possible to save on average 2% by deferring taxes on investment income. The advisor calculates that return on an investment paying 890 will be reduced to 6% by the impact of taxes on investment gains. What is the impact of a tax deferral on the total return of the investment over a 36 year period? You can calculate this using the Rule of 72