Excel Online Structured Activity: Required annuity payments You father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85 . He wants a fixed retirement income that has the same purchasing power at the time he retires as $55,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires. 10 years from today, at which time he will receive 24 additional antual payments. Annual inflation is expected to be 3%. He outrently has $235,000 saved, and be expects to earn 8% annually on his savings. The data has been collected in the Microsoft Excel Online file below, Open the spreadshect and perform the required analysis to answer the question below. Open soreatsheet How much must he save during each of the next 10 years (end-of-year deposits) to meet his retirement ooal? Do not round wour intermediate calculations. Round your answer to the nearest cent