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Keith Koh is currently aged 45 and draws an annual income of $100,000. It is projected that his wage will grow at 2.5% per annum.

Keith Koh is currently aged 45 and draws an annual income of $100,000. It is projected that his wage will grow at 2.5% per annum. Assuming a replacement ratio of 60%, what is the estimated retirement income per annum for Keith if he plans to retire at age 62?

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