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At the end of the year, Carly is retiring after 15 years of participation in her employer's defined benefit pension plan. The pension plan provides
At the end of the year, Carly is retiring after 15 years of participation in her employer's defined benefit pension plan. The pension plan provides a benefit based on 1.5% of her best earnings over 3 consecutive years. Carly's earnings during the past 7 years are the highest throughout her career. Given the following earnings history, calculate Carly's annual pension. 2012 = $45,000 2013 = $47,000 2014 = $50,000 2015 = $51,000 2016 = $49,000 2017 = $50,000 2018 = $52,000
Question options:
$11,250
$11,325
$11,363
$11,700
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