Mai, age $40,$ is leaving the workforce. The average life expectancy for a $40-$year old female is age $90.$ She has the opportunity to commute the value of her pension. Assuming an expected rate of return of $5\%,$ what is the lump sum payment required today to equal $$1,000$ of annual pension income payable beginning on her $65$th birthday?

Dany will turn $60$ years of age in December and plans to retire then from Bingo Ltd after $20$ years of service. He is a member of a defined benefit RPP and will receive a pension based on $2\%$ of his final average earnings of $$80,000$ times years of service. Dany wants the $60\%$ survivor pension option which will result in a $25\%$ reduction in his RPP benefit. He qualifies for a monthly CPP benefit of $$630$ which he will start to receive at age $60.$ With retirement, Dany estimates that his annual cash flow needs will be $$30,000.$ Based on this information, and using a $15\%$ effective tax rate, what will be Dany$$s net cash flow position next year?