If CPP and OAS will pay an income of $$24,000$ per year for your client, what lump sum would be required to replace CPP&OAS if the client is $65$ and life expectancy is age $958$ Assume $5\%$ pertfolio returns during retirement, $2\mathrm{.}7\%$ inflation, $25\%$ average tax rate and $40\%$ marginal tax rate. $($calculator 'begin' mode$)($Single Cheice$)*$

$527,856$

$501,629$

$587,859$

$549,428$