Today is your 21st birthday, and one of your friends (who is a personal financial advisor) was recommending you to plan for your retirement. You would like to have an early retirement at age 60. Starting your 61st birthday until your 90th birthday (inclusive), you would like to withdraw $60,000 per year. To support your retirement needs, you will be depositing money into an investment account on an annual basis. Your first deposit will be on your 22nd birthday, while your last deposit will be on your 60th birthday. The interest rate is expected to remain constant at 3% per year compounded annually. Calculate the amount of annual deposit needed to support your retirement needs. Show your calculation.