16. Determine the cost of retirement for a carpenter making $52,400 per year. For retirement, the company has provided the employee with access to a 401(k) plan and matches the employeescontributions to the plan at a rate of $0.75 per $1.00 contributed by the employee on the first 6% of the employees wages for a maximum matching contribution of 4.5% of the employees wages. The carpenter is expected to contribute at least 6% of his or her wages to the 401(k) plan.