Question 11 Suppose you deposit X in an account today in order to prepare for your retirement. You would like to receive payments of $50 per year in real terms, at the end of each year for a total of 12 years, with the first payment occurring seven years from now. The inflation rate will be 0% for the next six years, and 1.2% per annum there after. The annual effective rate of return is 6.3%. Calculate X. (A) $206.47 (B) $306.47 (C) $406.47 (D) $506.47 (E) $606.47