Question 8 Your father is about to retire, and wants to buy an annuity that will provide him with $50,000 of income per year for 25 years, beginning a year from today. The going rate on such annuities is 7.85%. How much would it cost him to buy such an annuity today? Your answer should be between 458,000.00 and 760,000.00, rounded to 2 decimal places, with no special characters