5.) Paul (age 45) wants to retire at age 67. He wants to have a lifestyle that will require $60,000 per year (including income taxes) in today's dollars. Paul figures that he will live in retirement for 30 years. His Social Security benefits are estimated to be $2,000/month (in today's dollars). He currently has $250,000 in his retirement portfolio. He contributes $5500/year to his Roth 401(k). Assume these contributions will remain constant for the rest of Paul's working career (do not inflate them - keep it simple!). Paul expects inflation to average 3.5% over his lifetime and he is comfortable with the assumption of earning an average of 7% annually on his retirement investments. Calculate how much Paul will have to invest per year to reach his retirement goals. (show your work for the chance to receive partial credit if an error is made during a step.) a.) 36,000 b.) 7,618 c.) 2,118 d.) He is already saving enough to meet his retirement goal