Steven, age 43, earns $80,000 annually; and his wage replacement ratio has been determined to be 80%. He expects inflation will average 3% for his entire life expectancy. He expects to work until 65, and live until 90. He anticipates an 8% return on his investments. Additionally, Social Security Administration has notified him that his annual retirement benefit, in today's dollars will be $26,000. Using the capital needs/ annuity method, calculate how much capital Steven will need to be able to retire at age 68. $1,091,906.06 $1,760,000.00 $1,061,342.08 $1,112,863.56