Required Annuity Payments Assume that your father is now 50 years old, clans to retire in 10 years, and expects to live for 25 years after he retires - that is, unti age Bs. He wants his first retirement payment to have the same purchasing power at the time he retires as 145,000 has today. He was all of his subsequent retirement payments to be equal to his test retirement payment. (Do not let the retirement payments grow with inflation: Your father realize that inflation occurs the real value of his retirement income will decine year by year after he retires), retirement Income will begin the day he retires, 10 years from today, and he will then receive 24 additional annual payments. Inflation is expected to be per ar from today forward. He currently has $125,000 saved and expects to earn a return on his savings of 84 per year with anal compounding. To the nearest dollar, how much must he save curing each of the next 10 years (with equal deposits being made at the end of each year, beginning a year from today to meet his retirement goal? (NoteNether the amount he savet nor the amount he withdraws upon retirement is a growing annuity) Do not found intermediate calculations. Round your answer to the nearest dla 5