An investor plans to retire in 25 years and wants to receive $50,000 per year in retirement income. If inflation is forecast at 3% per year, what annual income should she plan to receive in the first year of retirement to maintain the purchasing power of $50,000?

Group of answer choices

A. $90,568.08

B. $121,316.12

C. $104,688.90

D. $90,305.56