You are currently 22 years old and just starting your first "grown up" job after college, earning $50,000 per year. You have compiled the following assumptions: - Your average income increase will be 3% per year until you retire at age 67 ( 45 years). - Your expenses in the first year of retirement will be 60% of your final salary. - Your tax rate will be 20% - Your Social Security benefit will be 25\% of your final salary. What is your approximate pretax retirement income shortfall in the first year of retirement? $50,000 $80,000 $120.000 $95,000