Tim turns 28 today and plans to retire in 44 years. He intends to put $7,290 per year into a mutual fund account with the first deposit to be made today. The mutual fund is expected to provide 11.5% return every year. He expects his savings to support him for 40 years after he retires. Suppose once Tim retires, he moves his savings into a safer mutual fund that accrues 7.5% interests and starts making equal withdrawals every year at the beginning of each year. How large can each of his withdrawals be? Round all your calculations to the nearest $1