Question: A client is concerned about the impact that inflation will have on her retirement income. The client currently earns $40,000 per year. Assuming that inflation

A client is concerned about the impact that inflation will have on her retirement income. The client currently earns $40,000 per year. Assuming that inflation averages 5.5 percent for the first five years, 4 percent for the next five years, and 3.5 percent for the remaining time until retirement, what amount must her first-year retirement income be when she retires 13 years from now if she wants it to equal the purchasing power of her current earnings?

a. $62,550

b. $68,841

c. $70,520

d. $80,231

e. $83,157

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