Anne-Marie and Yancy calculate their current living expenditures to be $81,000 a year. During retirement, they plan to take one cruise a year that will cost $5,000 in today's dollars. Anne-Marie estimated that their average tax rate in retirement would be 13 percent. Yancy estimated their Social Security income to be about $21348 and their retirement benefits are approximately $38,950. Use this information to answer the following questions:

A. How much income, in today's dollars, will Anne-Marie and Yancy need in retirement assuming 70 percent replacement and an additional $5,000 for the cruise? =

B. Assuming the 13 percent income tax estimate during retirement, what is their tax-adjusted need from part a?=$

C. Calculate their projected annual income shortfall in today's dollars. =$

D. Determine, in dollars, the future value of the shortfall 25 years from now, assuming an inflation rate of 5 percent. =$

E. Assuming a nominal rate of return of 8 percent and 18years in retirement, calculate their necessary annual investment to reach their retirement goals. =$