John has just retired with an investment portfolio equal to $1 million. he plans on using the 4% capital balance approach to retirement distributions. he also plans on distributing the amount in one lump sum at the beginning of the year. his first year, he distributes $40,000 to live on, in addition to his other income. however, the market takes a significant decline and his portfolio loses 20%. his second year, after he takes his distribution, his portfolio takes another decline of 20%. how much can he take in the third year if he is sticking with the 4% method? round to the nearest thousand