Amanda is expected to receive full social security retirement benefit of $15500 annually when she turns 65. These benefits can be increased by 40% if she delays taking them till age 70.

If her life expectancy is 90 years and expected rate of return is 6%, should Amanda take full benefit at 65 or delay benefit till 70? Assume no other income and taxes during retirement.

A) She should wait till 70 since present value of benefits is $248,897 as against $198,142 at 65

B) She should start at 65 since present value of benefits is $198,142 as against $185,991 at 70

C) She should wait till 70 since present value of benefits is $248,897 as against $198,142 at 65

D) She should start at 65 since present value of benefits is $248,897 as against $185,991 at 70

Thanks!!!