Kolton's older brother, Alex, works as an economist. He recommends aiming for $1,500,000 by the age of

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Kolton's older brother, Alex, works as an economist. He recommends aiming for $1,500,000 by the age of 65 just to be conservative. Alex also informs Kolton that he projects investment returns to be closer to 7.21% rather than Kolton's initial assumption of 7%. Kolton believes, with his career path, he can earn and average of $79k annually until retirement. Assuming Kolton earns that much annually starting on his 24th birthday and Alex is correct with his projection, what should Kolton's savings rate be to hit his new retirement savings goal?