Sheldon has a portfolio valued at $1,500,000 (initial investment) and wants to increase the value to $2,200,000 in 6 years. An analysis of the clients non-portfolio inflows and outflows shows the client will need $10,000 from the portfolio in one year (first year onwards) and this amount is estimated to rise by 2.5% inflation per year. What is the clients calculated return requirement? Show all workings.