Pharoah Ltd$.$ initiated a one$-$person pension plan in January $2015$ that promises the employee a pension on retirement according to

the following formula: pension benefit $=2\mathrm{.}6\%$ of final salary per year of service after the plan initiation. The employee began

employment with Pharoah early in $2015$ at age $33$ and expects to retire at the end of $2041,$ the year in which he turns $60.$ His life

expectancy at that time is $21$ years.

Assume that this employee earned an annual salary of $$40,500$ when he joined Pharoah, that his salary was expected to increase at a

rate of $4\%$ per year, and that this remains a reasonable assumption to date. Pharoah considers a discount rate of $9\%$ to be appropriate.

$($a$)$

What is the employee's expected final salary? $($Round your answer to $0$ decimal places, e$.$g$.5,275.)$

Expected final salary $