Charlie just inherited $50,000. Charlie would like to set up a plan for withdrawing the money from the investment account and he wants his withdrawals to increase each year. The first withdrawal will occur one year from today. The second withdrawal will occur two years from today and will be twice as large as the first withdrawal. The third and final withdrawal will occur three years from today and will be twice as large as the second withdrawal. After the third withdrawal the investment account balance will be zero. In order to carry out his plans Charlie needs to know how much he can withdraw from the account. Determine how much Charlie can withdraw at the end of the first year. Charlie expects to earn 4 percent interest compounded quarterly on the account