You plan to retire in 27 years. During each year of retirement, you want to have (i.e. withdraw) an amount of money with the same purchasing power that $70,701 has today. Inflation is expected to be 3.9% per year from now on (i.e. forever). How much money do you need (to withdraw) in the first year of retirement (27 years from today)? Round your answer to the nearest dollar.