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Thinking ahead to retirement, assume you will be able to earn a 10 percent return on your investments. If you have saved $400,000 and expect

Thinking ahead to retirement, assume you will be able to earn a 10 percent return on your investments. If you have saved $400,000 and expect to live 16 more years when you retire, calculate the annual annuity you will be able to receive for 16 years. (Enter your answer as a positive number rounded to 2 decimal places.)

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