34. A policyholder wishes to annuitize the cash value of his insurance policy at retirement. The cash value is $500,000. What payment (to the nearest dollar) can he expect if he wishes to receive 10 years of payments (starting next year) and interest rates are 4.00 percent? A) $30,578 B) $20,578 C) $41,645 D) $60,578 $61,645