Solve the application problem. Round to the nearest cent. 
-Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 17 years. Assume that money can be deposited at 10% per year compounded annually. What exact amount will Charles need in 17 years?
Definitions:
Eliminate Unrecognized
The process of removing gains, losses, or other items that have not been realized or acknowledged formally from the financial statements.
Intra-entity Gross Profit
The profit recorded from transactions that occur within the same entity, often eliminated in consolidation.
Eliminate Intra-entity Transfer
The process of removing sales and purchases of goods or services made between companies within the same corporate group in consolidated financial statements.
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