You are just starting your first job out of college. You and your best friend are competing to see who will have more in their savings when you retire; you both plan to retire at age 57, just 36 years out. You will need $3.7 million to retire.

If you average an annual return of 6% on your investment, how much do you need to put into retirement savings on an annual basis? (Input your answer as a positive value. Round your answer to 2 decimal places.)

annual retirement savings: