An individual wants to retire in 15 years when he turns 65. He wants to have enough money to maintain his current income, which is $55,000 per year. It is assumed that a 6% annual investment rate of return and a 4% inflation rate per year. He expects that he will live to be 90 years old. He expects his raises to equal the inflation rate, approximately how much does he need at retirement to fulfill his retirement goals? ( Retirement expenses are assumed to be prepared at the beginning of each year)

A $55,000

B $2,285,195

C $1,988,957

D $99,051.89