Kevin and Jennifer are ready to retire. They want to receive the equivalent of $40,000 in today's dollars at the beginning of each year for the next 50 years. They assume inflation will average 3% over the long run, and they can earn 9% (compounded annually) on their investments. What lump sum do they need to invest today to attain their goal? 659,874 646,183 693,978 683,824 None of the above