Hector's wealth is zero, he expects to work for another 45 years at a constant salary of $80,000 and live for another 60 years. If yearly taxes are $20,000 and Hector completely smooths consumption over his lifetime, his annual consumption is

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Part 1

A.

$37,500.

B.

$45,000.

C.

$60,000.

D.

$70,000.