John Adams plans to retire at the age of 62. He wants an annual income of $60,000 per year. John is currently 45 years of age. How much does he have to place at the end of each year into a retirement account earning 15 percent per year in order to have an adequate retirement nest egg at age 62? He believes that he will live to be 87 and plans to earn 12 percent during retirement. He will draw the money at the end of each year.

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be: