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Dixie Company's defined benefit pension plan utilizes a funding formula that considers years of service and average compensation over employees' last five years of service
Dixie Company's defined benefit pension plan utilizes a funding formula that considers years of service and average compensation
over employees' last five years of service to determine the pension benefit payable to the plan participants. Colette is a participant
in Dixie's defined benefit pension plan and has years of service with the company. Her career average salary over the last
years is $ However, her compensation was $ in the last six years with Dixie. What is the maximum pension benefit
that could be payable to Colette at her retirement?
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