Imagine that a 65 year old woman and her husband have just retired with a combined retirement nest egg of $1.5 million. If they withdraw $150,000 at the end of each year, how many years will it be before they exhaust their retirement savings assuming that their retirement account earns 3% interest? Round your answer to the nearest year. (This is another A = B x C question.)

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A. 10

B. 12

C. 14

D. 16

E. 18