Andy is planning for his retirement. He is currently 37 and plans to retire in 26 years, at age 63. He expects then to live an additional 34 years, until age 97. He currently earns $100,000 per year, and anticipates needing 80% of his income during retirement. Based on his Social Security benefits statement, a pessimistic estimate of his Social Security pension when he retires is $15,000 per year in today's dollars. He expects inflation to average 5% per year. Assume withdrawals during retirement are at the beginning of each year. He believes he can earn a nominal return on his retirement investments of 8% per year before retirement, and 6% per year after retirement. Use the Annuity method with the Dalton approach. How much income per year from his investments will he need at retirement, in nominal dollars, the first year of retirement