You plan for your retirement very early. You are considering buying an annuity product that is expected to pay you regular annual cash flows every year starting from 30 years later. The first cash flow is $50000 (in year 30), then it starts growing by 5% every year for 10 years (totally 11 cash flows). Your required rate of return is 10%. How much are you willing to pay for it today? (Hint: growing annuity) $22954 $27590 $25250 $20500