Siegfried Basset is 65 years of age and has a life expectancy of 12 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 interest rate is 8.5 percent, what income can Mr. Basset expect to receive each year? (1+r)"-1 FVIF,,t = (1 + r) FVIFAr,n = r 1 1-- (1+r)" PVIFrit 1 (1+r) PVIFA,n = r