A client is concerned about the impact that inflation will have on her retirement income. The client currently earns $38,000 per year. Assuming that inflation averages 2.25% for the first four years, 2.5% for the next four years and 3.25% for the remaining time until retirement.What amount must her first-year retirement income be when she retires 13 years from now if she wants it to equal the purchasing power of her current earnings?

a. $53,800

b. $54,998

c. $55,675

d. $52,892