Dee is in the process of estimating her client's retirement funding need. Based on the following information, how much income, in today's dollars, does Dee's client need to replace today?
Current Earnings $ 150,000.00
Replacement Ratio 80.00%
Social Security $ 23,000.00 Pre-
Retirement Inflation 3.00%
Post-Retirement Inflation 3.50%
Pre-Retirement RoR 8.50%
Post-Retirement RoR 6.00%
a. $97,000
b. $120,000
c. $127,000
d. $150,000