it is a FM question? please show the details

4. You decide to provide yourself with a retirement account by depositing X into an account at the beginning of each year for the next 40 years. One year after your final deposit, you want to purchase, with your accumulated funds, a 25-year annuity-immediate that pays $25,000 every six months. Assume that the effective annual rate of interest is 7% for the first 40 years, and 5% thereafter. Find X, the amount of your annual deposit necessary to achieve your retirement annuity purchase. (A) S3,100 (B) S3,220 (C) $3,340 (D) $3,460 (E) $3,580