A friend is celebrating her birthday to start saving for her anticipated retirement. She provides you with the following information: Years until retirement: 40 Amount to withdraw each year in retirement: $120,000 Years to withdraw in retirement: 25 Interest rate: 7% The first withdrawal will not take place until one year after she retires. She will also make equal annual deposits into her account to fund her retirement. Calculate the amount she needs to deposit annually to be able to make the desired withdrawals in retirement. (Round to 2 decimals)