Peggy is a 52-year-old client who earns $110,000 a year and saves 10% of her annual gross income through retirement plan deferral. In addition to payroll taxes that are also deducted, Peggy has a deduction equal to 2% of her gross pay to cover union dues. If Peggy hopes to have the same purchasing power throughout retirement as she has today what would that be in today's dollars? What would that be as a percentage of her current gross income? (round to the nearest whole dollar or percentage and include signs and commas if appropriate)