(Present value)Sarah Wiggum would like to make a single investment and have $1.8 million at the time of her retirement in 28 years. She has found a mutual fund that will earn 7 percent annually. How much will Sarah have to investtoday? If Sarah earned an annual return of 18 percent, how soon could she thenretire?

a.If Sarah can earn 7 percent annually for the next 28 years, the amount of money she will have to invest today is $___ (Round to the nearestcent.)