Henry, age 65 and Helen, age 62, have been married for over 30 years. They meet with their financial planner to discuss their retirement plans and complete the paperwork of transferring Henry's RRSP to a new RRIF account. During this process, the financial planner notices Henry has taken out the required minimum for the year and he might be able to reduce his minimum starting next year based on Helen's age. If he ends this year with an account value of $1,250,000 and Helen will be 63 on January 1 of next year, what is the approximate minimum amount Henry would be required to withdraw next year?

Question 4 options:

$46,296

$44,643

$52,083

$50,000