A future retiree wants to be able to have yearly withdrawals of $25,000 from his retirement account for a period of 30 years starting a year after he turns 67. If the retiree is able to earn a yearly rate of return of 6.3% in his retirement account during the 30 year period, what must be the approximate balance in the account on his 67 birthday, that is, the beginning of the retirement period?

$306,776

$333,351

$2,084,007

$1,096,859