You are planning to save 51.1 million for retirement over the next 34 years (a) If you are earning interest at the rate of 0% and you live 20 years after retirement, what annual level of living expenses will those savings support? (b) Suppose your retirement living expenses will increase at an annual rate of 4% due to infation. Determine the spending plan for the first year of retirement in the with your inflation Click the icon to view the interest factors for discrete compounding when -4% per year. Click the icon to view the interest factors for discrete compounding when i=8% per year. (a) The annual level of living expenses is $(Round to the nearest dolar) (b) The annual spending plan for the first year of retirement in line with your infation is s Round to the nearest dollar)