Eva wishes to retire in 2025 with the first-year retirement income of $120,000. She estimates she will have 30 years of retirement, starting in 2026 (when she draws $120,000 of retirement income) and ending in 2055. She expects inflation of 2% per year during her retirement and wants to maintain her real income to keep up with the inflation (i.e., nominal income to increase at the rate of inflation). She estimates her retirement portfolio consisting of index mutual funds and government bonds will earn 7% per year during the retirement period. For Eva to retire as planned, how much retirement savings would she need to have in 2025? $1,821,084.31 $1,950,442.72 $3,600,000.00 $1,828,911.96 $1,714,285.71