Kendra is 25 years old. Her salary now is $47,000 per year, and she expects raises with inflation. Inflation is expected to be 2.5%, and Kendra has access to a retirement investment plan that has an average return of 8%. Kendra plans to retire at age 67 with a RLE = 20 years. Kendra's wage replacement ratio is 100%, and she does not plan on receiving Social Security. a. How much money must Kendra have in savings at age 67 to retire at her desired standard of living? b. What is the present value (now) of Kendra's retirement need? c. How much must Kendra invest annually until age 67 to meet her goal