= Max is retiring after 25 years of employment with the government. His employer sponsors a 2% Defined-Benefit Pension Plan (DBPP) with the formula based on the average of his last 3 years of earnings. If Max's employment income has been the same at $80,000 for the last three years due to salary freezes, what would be his annual pension income at retirement? $1,600 O $4,800 $80,000 $40,000