After consulting with your financial advisor, you figured that you need $150,000 per year for your living during 35 years of the retirement period. You consider buying an annuity contract which will pay $150,000 at the end of every year. Assuming a rate of return of 8%, how much do you need today to buy the ordinary annuity contract?

$1,733,457

$1,755,457

$1,748,185

$1,765,980