Siegfried Basset is 65 years of age and has a life expectancy of 12 more years. He wishes to invest $20,000 in an annuity that Will make a level payment at the end of each year until his death. If the interest rate is 8%, what income can Mr. Basset expect to receive each year? Note: Use cells A8 to 810 from the given information to complete this question. You must use the built-in Excel function to answer this question. All answers should be displayed as positive numbers. Round your answer to 2 decimal places