Kenneth Clark is 30 years and wants to retire when he is 65. So far he has saved (1) $5,750 in an IRA account in which his money is earning 8.3 percent annually and (2) $5,130 in a money market account in which he is earning 5.25 percent annually. Kenneth wants to have $1 million when he retires. Starting next year, he plans to invest the same amount of money every year until he retires in a mutual fund in which he expects to earn 7.12 percent annually. How much will Kenneth have to invest every year to achieve his savings goal?