Sarah Wiggum would like to make a single lump-sum investment and have $2.3 million at the time of her retirement in 35 years. She has found a mutual fund that expects to earn 8 percent annually. How much must Sarah invest today? If Sarah earned an annual return of 18 percent, how much must she invest today?

a. If Sarah can earn 8 percent annually for the next 35 years, how much will she have to invest today? $ (Round to the nearest cent.)

b. If Sarah can earn 18 percent annually for the next 35 years, how much will she have to invest today?