Julian expects to need 80% of his preretirement income during retirement. His preretirement income is $⁢72,500 per year. What estimated annual income will he need during retirement?

To estimate Julian’s retirement income, multiply his preretirement income by 80%: 0.80 × $72,500 = $58,000. He will need an estimated annual income of $58,000 during retirement, which is choice D.

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