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Robert is 40 years old and has never been married. Robert currently earns $100,000 as an employee and has managed to save $100,000 towards his retirement goal. He is currently saving $5,000 per year in his 401(k) plan. His employer's plan calls for a 50% match for contributions up to an employee elective deferral of 6%. Robert's primary goal, for this example, is to retire at age 62 with an 80% wage replacement ratio, including his social security benefit which is projected to be $30,000 in today's dollars at normal retirement age of 67. He wants to plan for a life expectancy to age 95. General inflation is expected to average 3% annually for the foreseeable future. Robert expects his investment portfolio to produce an after-tax rate of return of 8.5%. Robert's marginal income tax rate is 25%. Using the present value analysis, answer the following questions for Robert. 1.) If Robert wants to retire at age 62 as he has indicated and he files for his social security benefit at age 62, how much money will he need annually to supplement his social security benefit to meet his desired 80% wage replacement ratio. Please show work. 2.) Based on the needs in today's dollars identified in #1, what will be the amount of Robert's need at age 62 when he retires? Please show work. 3.) Given Robert's life expectancy, expected after-tax rate of return, and projected inflation rate, how much money should Robert have accumulated by age 62 to cover his needs throughout retirement? Please show work. 4.) If the answer to #3 is the amount of money Robert will need to have accumulated by the time he retires at age 62, how much should he currently have in his retirement savings? Please show work. 5.) Based on the amount Robert should have already saved for retirement (answer to #4) and what he currently has saved, how much will Robert need to save each year for his remaining work-life to meet his retirement goal? Please show work.