(Present value)Sarah Wiggum would like to make a single investment and have $1.6 million at the time of her retirement in 25 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 15 percent, how soon could she then retire?

a.If Sarah can earn 4 percent annually for the next 25 years, the amount of money she will have to invest today is $ ..... Answer to be (Rounded to the nearest cent.)