You have deposited $7,620 in a special account that has a guaranteed rate of return of 19% per year. If you are willing to completely exhaust the account, what is the maximum amount that you could withdraw at the end of each of the next 7 years? Select the amount below that is closest to your answer. (Ignore income taxes.)Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. (Round your intermediate calculations to 3 decimal places.)Garrison 16e Rechecks 2017-12-15

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To find the maximum amount that could be withdrawn at the end of each of the next 7 years, we use the annuity formula or a financial calculator with the present value (PV) of $7,620, the annual interest rate (i) of 19%, and the number of periods (n) of 7 years. The formula for the annuity payment (PMT) is PMT = PV * [i / (1 - (1 + i)^-n)], where i is expressed as a decimal. Using the given information, the calculation approximates the answer closest to $2,056, which is option B.

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