After your recent meeting with clint Barton (45), Clint wants to know whether he has made sufficient provision for his retirement at age 65 His retirement needs and wistes are as follows: - Clint has calculated that, during retirement he needs to recelve an after-tax income of R280 000 per annum in order to sustain his current lifestyle. - His retirement income must increase annually in line with inflation. - He would like his income after retirement to be provided untii he reaches age 80. He has made the following provisions fot his retirement: - Clint is a member of his employer's pension fund The employer currently contributes R35 000 per annum to the fund and Clint contributes R30000 per annum to the fund of which 3% goes towards the administration of the fund - Contributions are expocted to increase at the inflation rate. The foltowing:assumptions ate macie: - All regulat investments, instalments and income are payable armually in advance - The net return on all investments priar to tetirement is 12 per annurn. - The net returnon all investmerits aftel tetirement is 10 /6 per annump - Any annual investments made to negate a shortfall that could exist at retiroment will escalate at 99 pet annum - Clintis marginal tax rate is 30ni Calculate the value of the contributions to Clint's retirement fund: After your recent meeting with clint Barton (45), Clint wants to know whether he has made sufficient provision for his retirement at age 65 His retirement needs and wistes are as follows: - Clint has calculated that, during retirement he needs to recelve an after-tax income of R280 000 per annum in order to sustain his current lifestyle. - His retirement income must increase annually in line with inflation. - He would like his income after retirement to be provided untii he reaches age 80. He has made the following provisions fot his retirement: - Clint is a member of his employer's pension fund The employer currently contributes R35 000 per annum to the fund and Clint contributes R30000 per annum to the fund of which 3% goes towards the administration of the fund - Contributions are expocted to increase at the inflation rate. The foltowing:assumptions ate macie: - All regulat investments, instalments and income are payable armually in advance - The net return on all investments priar to tetirement is 12 per annurn. - The net returnon all investmerits aftel tetirement is 10 /6 per annump - Any annual investments made to negate a shortfall that could exist at retiroment will escalate at 99 pet annum - Clintis marginal tax rate is 30ni Calculate the value of the contributions to Clint's retirement fund