Your brother turns 35 today, and he is planning to save $7,000 per year for retirement, with the first deposit to be made one year from today. He will invest in a mutual fund that's expected to provide a return of 7.5% per year. He plans to retire 30 years from today, when he turns 65, and he expects to live for 25 years after retirement, to age 90. Assuming annual rate of return remains at 7.5% for his investment account during the retirement stage, how much can he spend each month after he retires? His first withdrawal will be made at the end of his first retirement month. $5,348.79 $7,135.48 $5,880.15 O $6,166.25