Alex Bell has just retired from the telephone company. His total pension funds have an accumulated value of exist340,000, and his life expectancy is 16 more years. His pension fund manager assumes he can earn a 11 percent return on his assets. What will be his yearly annuity for the next 16 years? Use Appendix D. (Round "PV Factor" to 3 decimal places and final answer to 2 decimal places. Omit the "exist" sign in your response.) Annuity exist