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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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