During 2020, Saul Bronson transfers his entire RRSP balance into a RRIF. At this time, Mr. Bronson is 69 years old. On January 1, 2020, these assets had a fair market value of $2,400,000. The corresponding figure on January 1, 2021 is $2,600,000. What is the minimum withdrawal that Mr. Bronson must make from the RRIF during 2020 and during 2021?
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