DB 6.8 Deferred Annuities Be sure to show your calculations in each case in order to receive credit. Assume an 8% interest rate and annual compounding in the following two scenarios: (1) Assume Ace will not retire for 5 years. Beginning with the end of year 6, he will make the first of ten annual withdrawals of $50,000 from his retirement account (i.e., through year 15). What must Ace have in his retirement account today in order to make those annual withdrawals? (2) What must Ace have in his retirement account today if he makes the first of the ten annual withdrawals at the beginning of year 6 (assuming everything else is the same as scenario (1) above)