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Q28 Russell and Charmin have current living expenses of $54,810 a year. Estimate the present value amount of income they will need to maintain their
Q28
Russell and Charmin have current living expenses of
$54,810
a year. Estimate the present value amount of income they will need to maintain their level of living in retirement. Assume an average tax rate of
21
percent and a(n)
73
percent income replacement ratio.
The estimated present value amount of income they will need to maintain their level of living in retirement is
$?.
(Round to the nearest dollar.)
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