had another Q on the asset base calc, it says the immediate cash required is 200k (pretax) CFAI should have given the tax rate, the true asset base should have been larger than 4million as they do have cash holdings can just draw the required living expense after tax… i would say the required return of 7.46% is overstated slightly… i know this would not make a huge difference in %, but as CFAI would like to go to v. details, wouldn’t this be considered when they construct the Question?? (what are they trying to test here, if it’s their intention to leave tax rate out???)