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Marco, age 44 , needs $53,560 from his portfolio in retirement in TODAY's DOLLARS? Assume that he retires at age 68 and that inflation is

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Marco, age 44 , needs $53,560 from his portfolio in retirement in TODAY's DOLLARS? Assume that he retires at age 68 and that inflation is 2.7 percent and his expected investment returns are 7 percent. What will his income needs be at the beginning of the first year of retirement? (Round your answer to 2 decimal places)

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