Tiffany, a self-employed dentist, currently earns $100,000 per year. Tiffany has always been a self proclaimed saver, and saves 25% per year of her Schedule C net income.

Assume Tiffany paid $13,000 in Social Security taxes. Tiffany plans to pay off her home mortgage at retirement and live debt free. She currently spends $25,000 per year on her mortgage. What do you expect Tiffany’s wage replacement ratio to be at retirement based on the above information?

a. 37.00%.

b. 59.70%.

c. 65.30%:

d. 84.70%.