Assume the life expectancy of the average 65-year-old Canadian male is about 15 additional years. Eric wants to have sufficient funds in his RRIF at age 65 to be able to withdraw $43,000 at the beginning of each year for the expected survival period of 15 years. If his RRIF earns 5.80% compounded annually, what amount must he have in the RRIF at the time he turns 65? For full marks your answer(s) should be rounded to the nearest cent