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Gary and linda assume they will need an additional $70,000 above their social security benefits at the beginning of each year in today's dollars when they retire in 6 years. The couple is assuming an annual inflation rate of 4% and a 7.5% after-tax return on all their investments. They are also assuming a 25-year retirement period. what is the total retirement fund they will need to support their retirement income goal?
a) $1,481,367
b) $1,531,221
c) $1,068,484
d) $1,176,121