PLEASE ANSWER ASAP!!!
Anne-Marie and Yancy calculate their current living expenditures to be $60,000 a year. During retirement they plan to take one cruise a year that will cost $5,000 in today's dollars. Anne-Marie estimated that their average tax rate in retirement would be 17 percent. Yancy estimated their Social Security income to be about $20,247 and their retirement benefits are approximately $29,429. Use this information to answer the following questions: a. How much income, in today's dollars, will Anne-Marie and Yancy need in retirement assuming 70 percent replacement and an additional $5,000 for the cruise? b. Assuming the 17 percent income tax estimate during retirement, wat is their tax-adjusted need from part a? c. Calculate their projected annual income shortfall in today's dollars. d. Determine, in dollars, the future value of the shortfall 32 years from now, assuming an inflation rate of 4 percent. e. Assuming a nominal rate of return of 9 percent and 22 years in retirement, calculate their necessary annual investment to reach their retirement goals. Click on the table icon to view the FVIF table. Click on the table icon to view the PVFA table. Click on the table icon to view the FVFA table a. The pre-tax amount, in today's dollars, that Anne-Marie and Yancy will need in retirement assuming 70 percent replacement and an additional $5,000 for the cruise is $ (Round to the nearest cent.) b. Assuming the 17 percent income tax estimate during retirement, wat is their tax-adjusted need from part a? The tax-adjusted or gross need is 9 . (Round to the nearest cent.) c. Their projected annual income shorffall in today's dollars is $ (Round to the nearest cent.) d. The future value of the shortfall 32 years from now, assuming an inflation rate of 4 percent is $ (Round to the nearest cent.) e. Assuming a nominal rate of return of 9 percent and 22 years in retirement, their necessary annual investment to reach their retirement goals is $ (Round to the nearest cent.) Data table \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{1}{|c|}{n} & 1% & 2% & 3% & 4% & 5% & 6% & 7% & 8% & 9% & \\ \hline 15 & 13.8651 & 12.8493 & 11.9379 & 11.1184 & 10.3797 & 9.7122 & 9.1079 & 8.5595 & 8.0607 & 7. \\ \hline 16 & 14.7179 & 13.5777 & 12.5611 & 11.6523 & 10.8378 & 10.1059 & 9.4466 & 8.8514 & 8.3126 & 7. \\ \hline 17 & 15.5623 & 14.2919 & 13.1661 & 12.1657 & 11.2741 & 10.4773 & 9.7632 & 9.1216 & 8.5436 & 8. \\ \hline 18 & 16.3983 & 14.9920 & 13.7535 & 12.6593 & 11.6896 & 10.8276 & 10.0591 & 9.3719 & 8.7556 & 8. \\ \hline 19 & 17.2260 & 15.6785 & 14.3238 & 13.1339 & 12.0853 & 11.1581 & 10.3356 & 9.6036 & 8.9501 & 8. \\ \hline 20 & 18.0456 & 16.3514 & 14.8775 & 13.5903 & 12.4622 & 11.4699 & 10.5940 & 9.8181 & 9.1285 & 8. \\ \hline 21 & 18.8570 & 17.0112 & 15.4150 & 14.0292 & 12.8212 & 11.7641 & 10.8355 & 10.0168 & 9.2922 & 8. \\ \hline 22 & 19.6604 & 17.6580 & 15.9369 & 14.4511 & 13.1630 & 12.0416 & 11.0612 & 10.2007 & 9.4424 & 8. \\ \hline 23 & 20.4558 & 18.2922 & 16.4436 & 14.8568 & 13.4886 & 12.3034 & 11.2722 & 10.3711 & 9.5802 & 8. \\ \hline 24 & 21.2434 & 18.9139 & 16.9355 & 15.2470 & 13.7986 & 12.5504 & 11.4693 & 10.5288 & 9.7066 & 8. \\ \hline 25 & 22.0232 & 19.5235 & 17.4131 & 15.6221 & 14.0939 & 12.7834 & 11.6536 & 10.6748 & 9.8226 & 9. \\ \hline 26 & 22.7952 & 20.1210 & 17.8768 & 15.9828 & 14.3752 & 13.0032 & 11.8258 & 10.8100 & 9.9290 & 9. \\ \hline 27 & 23.5596 & 20.7069 & 18.3270 & 16.3296 & 14.6430 & 13.2105 & 11.9867 & 10.9352 & 10.0266 & 9. \\ \hline 28 & 24.3164 & 21.2813 & 18.7641 & 16.6631 & 14.8981 & 13.4062 & 12.1371 & 11.0511 & 10.1161 & 9. \\ \hline 29 & 25.0658 & 21.8444 & 19.1885 & 16.9837 & 15.1411 & 13.5907 & 12.2777 & 11.1584 & 10.1983 & 9. \\ \hline 30 & 25.8077 & 22.3965 & 19.6004 & 17.2920 & 15.3725 & 13.7648 & 12.4090 & 11.2578 & 10.2737 & 9. \\ \hline \end{tabular} Data table
