At the end of 2014, Elizabeth Bolton earned $50,000. In 2015, she earned a 5% increase. In 2016, she earned a 4% increase. In 2017, she earned a 6% increase. And in 2018, she earned a 8% increase. Calculate what her pay would be, if her increases had been permanent merit increases and what her pay would be, if her increases had been incentive bonuses. (Please fill in the following table.) Cost of Increase Total Salary Under Year % Permanent Merit Incentive Increase Increase $ Award $ Permanent Merit Incentive Increase $ Award $ 2015 5% 2016 4% 2017 6% 2018 8% Requirements Based on your calculations, if you were Elizabeth, which incentive plan would you prefer to be on: permanent merit increase or annual bonus awards? Why? Explain why many organizations are shifting from permanent merit increases to annual bonus awards