Felicity Thomas, a 25-year old college graduate, wishes to retire at age 65. To supplement other sources of retirement income, she can deposit $4,000 each year into a tax-deferred individual retirement account (IRA). The IRA will earn 8% return for the next 40 years

. If she waits until age 35, to begin the annual end-of-year $4,000 deposits, how much will she have accumulated by the end of her sixty-fifth year?