You have determined that you will need to accumulate $1,000,000 in your retirement account in order to cover your inflation-adjusted shortfall. Which of the following is closest to the amount of money you would need to put into a tax-deferred retirement account every year if you plan on retiring in 40 years? Assume an 8% average return on this account and that it is empty today. Hint: Use TVM calculator  $1,458 $3,860 $5,957 $8,444 $25,000

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