Mary has $255,906 accumulated in a 401K plan. The fund is earning a low, but safe, 3% per year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Mary withdraws $30,000 each year?

Group of answer choices

8.5 years.

8.8 years.

10 years.

None is correct.

11 years.