Tom wants to retire at the end of this year (2014). His life expectancy is 20 years from his retirement. Tom has come to you, his CPA, to learn how much he should deposit on December 31^st 2014 to be able to withdraw $60,000 at the end of each year, starting Dec 31^st 2015 for the next 20 years until Dec 31^st 2034, assuming the amount on deposit will earn an 8% return annually