Calculate approximately how much money an older (age 65-74) household with an annual income of $54,000 spends on health care each year. Use Exhibit 14-3 Money spent on health care AGE 65-74 AGE 75 & OLDER Average $ Amount Percent Average $ Amount Percent $52,366 100 $35,467 100 Pretax Annual Income Annual Expenditures Housing $48,855 100 $36,673 100 $15,838 32.4 $13,375 36.5 Food $ 6,284 12.0 $ 4,349 11.9 Clothing $ 1,417 2.9 $ 683 1.9 Transportation $ 8,338 17.1 $ 5,091 13.9 Health Care $ 5,456 12.2 $ 5,708 15.6 Entertainment $ 2,988 6.1 $ 1,626 4.4 Pensions and Social Security $ 2,788 5.7 $ 800 2.2 Other $ 6,074 11.6 $ 5,041 13.7