sophia purchased a variable annuity contract with a purchase payment of $110,000. surrender charges begin with 5 percent in the first year and decline by 2 percent each year. in addition, sophia can withdraw 8 percent of her contract value each year without paying surrender charges. in the first year, sophia needed to withdraw $15,700. assume that the contract value had not increased or decreased because of investment performance. what was the surrender charge sophia had to pay?