explain steps please

P7-28 Real Cash Flows [LO4] You want to have $3 million in real dollars in an account when you retire in 50 years. The nominal return on your investment is 12 percent and the inflation rate is 5 percent. What real amount must you deposit each year to achieve your goal? (Do not round your intermediate calculations.) O$8,263.76 $1,249.99 O $8,676.94 $8,594.31 O $7,850.57