You are saving $10,000 a year at the beginning of each year from 2 through 12, inclusive, that can be used to meet your obligations. One of the first obligations you will have is to pay off the expenses of sending your children to a university. Your payment for your child's university education will be $15,762 at the beginning of each year for years 15 through year 26, inclusive. In addition, you and your spouse plan to retire in 50 years. You want to have $75,000 available at the beginning of each year from year 50 through year 74, inclusive. All of your funds earn a 4% before-tax rate of return from years 1 through 18, inclusive, and then changes to a before-tax rate of 6% thereafter. You are trying to calculate what you will need on an after-tax basis when your average tax rate is 30% and your marginal tax rate is 35%. How much must you invest on an after-tax basis at the end of each of the years 14 through year 45, inclusive, to meet your financial objectives? 0 2 Your timeline: 4% 12 +$10,000/year At the Raminnin 14 15 18 19 26 Pymt/year-? 45 50 -$75,000/year 74