5. Russell and Charmin have current living expenses of $89,880 a year. Estimate the present value amount of income they will need to maintain their level of living in retirement. Assume an average tax rate of 21 percent and a(n) 71 percent income replacement ratio. The estimated present value amount of income they will need to maintain their level of living in retirement is $ (Round to the nearest dollar.) 5. Russell and Charmin have current living expenses of $89,880 a year. Estimate the present value amount of income they will need to maintain their level of living in retirement. Assume an average tax rate of 21 percent and an) 71 percent income replacement ratio The estimated present value amount of income they will need to maintain their level of living in retirement is s (Round to the nearest dollar)