Your client has $1,000,000 in an ordinary 401k plan on 1/1/2023. The client wants to know how much she can withdraw from the plan each year such that she has a balance of $0 at the end of her withdrawals. She anticipates taking 24 annual withdrawals during her life, with the first on 1/1/2023. She anticipates pretax annual earning 5% on all money invested in the 401k plan at all times. She anticipates having an ordinary tax rate of 20% when she is taking her withdrawals. Answer the questions below.

Present value 1,000,000

Number of periods 24

Annual rate of return 5%

Annuity due X all taxable

Annual pretax withdrawal ?

After-cash from each withdrawal ?