Richard Gorman is 65 years old and about to retire. He has $634,000 saved to supplement his pension and Social Security and would like to withdraw it in equal annual dollar amounts so that nothing is left after 16 years. How much does he have to withdraw each year if he eams 5 percent on his money? Click on the table icon to view the annuity table EEB If he earns 5 percent on his money, the amount he will have to withdraw each year is S(Round to the nearest cent.)