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 68, 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. $836,000. $1, 760,000.00. $1, 061, 342.08. $1, 112, 863.56