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PLEASE ANSWER THE FOLLOWING QUESTION ASAP... dollars. Anne-Marie estimated that their average tax rate in retirement would be 16 percent. Yancy estimated their Social Security

PLEASE ANSWER THE FOLLOWING QUESTION ASAP...

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dollars. Anne-Marie estimated that their average tax rate in retirement would be 16 percent. Yancy estimated their Social Security income to be about $21,250 and their retirement benefits are approximately $36,565. 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 16 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 29 years from now, assuming an inflation rate of 4 percent. e. Assuming a nominal rate of return of 6 percent and 23 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 PVIFA table. Click on the table icon to view the FVIFA 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 16 percent income tax estimate during retirement, wat is their tax-adjusted need from part a? The tax-adjusted or gross need is $. (Round to the nearest cent.) c. Their projected annual income shortfall in today's dollars is $ (Round to the nearest cent.) d. The future value of the shortfall 29 years from now, assuming an inflation rate of 4 percent is $ (Round to the nearest cent.) e. Assuming a nominal rate of return of 6 percent and 23 years in retirement, their necessary annual investment to reach their retirement goals is $ (Round to the nearest cent.)

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