Hello, I need help solving this 25 point case study question

Page 4 Case Study (25 points) The following is a case study about a couple planning for retirement. Take into consideration all of the facts of the case and you are to identify the following in helping them prepare for retirement: 1) Identify the replacement income needed at retirement using the replacement method. Justify why you chose the particular replacement percentage with your rationale. 2) Identify the current sources of retirement income and the amounts of each, and calculate a total. 3) Based upon the replacement income and the sources of income, will Peter and Kate have a deficit or excess in today's dollars? Show your calculation. 4) Based upon the present value of the assets Peter and Kate have and the answer to number 3 above, how much do you think that Peter and Kate need to save each year until retirement to satisfy their retirement needs. To answer this question, you need to calculate the PV of their retirement needs (based upon your answer in #1 above and do so for a 25-year period) and compare to their current assets; and then calculate an annuity (annual savings) from age 50 to 67. Don't forget about making annual inflation and investment return assumption. You should explain why you chose these assumptions. 5) What are some of your concerns regarding Peter and Kates retirement situation and also desire to help support their twin's college costs. You should identify 3 issues that they need to consider that may have come out of the facts below. For each issue, please explain why it is an issue and what Peter & Kate should consider. Case Study Facts Peter and Kate, both the age of 50, have twin children that are entering college next year. They both wish to retire at the age of 67 when they would reach the normal retirement age for Social Security benefits. Their current income levels are the following: Peter: $ 80,000 base with a 25% bonus potential ( Electronic Sales) Kate: $ 60,000 base with a 10% bonus potential (Accountant) They are currently in the 28% marginal tax bracket Their current Balance Sheet is the following: Assets Liabilities Cash at bank $ 50,000 Mortgage $200,000 Peter 401K $300,000 Kate 401K $250,000 Total Liabilities $200,000 House $400,000 Total Assets $1,000,000 Net Worth $800,000