1-4: Interglobal Consolidated Useful Products Corporation has a defined benefit pension plan for its workers. On retirement at age 65, the plan provides 1.75% of the 3-year final average salary for each year of service, up to a maximum of 60%. Exercises 1 to 4 are based on this DB plan. 3. Suppose that this pension plan allows its workers to begin receiving payouts as early as age 60. For each year below age 65 , benefits are reduced by 2%. Calculate the pension benefit that would be paid for the following years or service, last 3 years' earnings, and retirement age: 28 years; $37,500;$38,425;$39,901; age 62