an employee with 25 years of service at a company is considering retirement at some point in the next 10 years. The employer uses a final pay benefit formula by which the employee receives an annual benefit payment of 3.25% of her average salary during her last five years of service times her total years employed. Calculate the annual benefit payment for retirement now, in 5 years, and in 10 years.

Average salary during last five years of service:

Retire now- $125,000

Retire in 5 years- 135,000

Retire in 10 years- 140,000