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Mark has worked for We-Love-Our-Company for 37 years. His defined benefit pension plan (DBPP) provides a benefit of 2% of the average of the last

Mark has worked for We-Love-Our-Company for 37 years. His defined benefit pension plan (DBPP) provides a benefit of 2% of the average of the last 3 years for every year of service to a maximum of 35 years. In his last year he earned $80,000 and his three-year average when he retired was $77,000. How much is his pension?

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