Sarah Wiggum would like to make a single investment and have $1.6 million at the time of her retirement in 34 years. She has found a mutual fund that will earn 5 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 17 percent, how soon could she then retire?

a.If Sarah can earn 5 percent annually for the next 34 years, the amount of money she will have to invest today is $_____ nothing. (Round to the nearest cent.)