You are now thirty years old and have just started working for a company that provides you with a defined-benefit pension plan. The pension income that you get when you retire is equal to 2% of your final-year salary, multiplied by the number of years of service. Your current salary is $40,000 (payable at the end of the year). It is growing at the rate of 1% per year (in real terms). You will retire when you reach sixty-five years old. How much will your pension income be?