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Please solve for both. thank you so much, you guys are the best Required Informetion The following information applies to the questions dispiayed belowj Javier
Please solve for both. thank you so much, you guys are the best Required Informetion The following information applies to the questions dispiayed belowj Javier recently graduated and started his career with DNL Incorporated. DNL provides a defined benefit plan to all employees. According to the terms of the plan, for each full year of service working for the employer, employees recelve o benefit of 1.5 percent of their average salary over thelr highest three years of compensation from the company Employees may accrue only 30 years of benefit under the plan ( 45 percent). Determine Javier's annual benefit on retirement, before toxes, under each of the following scenonios (Use Exhibit 13-4). Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no onswers blonk. Enter zero if applicoble. 1. Jovier works for DNL for six years and three months before he leaves for another job. Javier's annual salary was $75,000,$85,000. $90,000, and $95,000 for years 4,5,6, and 7 , respectively. DNL uses a seven-year graded vesting schedule. Requlred Information [The following information applies to the questions dispilayed below] Javer recently graduated and started his career with DNL Incorporated DNL provides a defined benefit plan to all employees. According to the terms of the plan, for each full year of service working for the employer, employees recerve a benent of 1.5 percent of their average salary over their highest three years of compensation from the company Employees may accrue only 30 years of benefit under the pian $45 percent. Determine Javier's annual benefit on retirement, before taxes, under each of the following scenanos (Use Exhibit 13-1): Note: Do not round intermediate calculations. Round your finel answers to the nearest whole dollar amount. Leave no enswers blonk. Enter zero it applicoble. e. Javier works for DNL for 32 years and three months before retinng Javers annual salary was $175,000,$185,000,$190,000, and $195,000 for his final four years of employment. Note that in the yeat he retred he didn't work for the entire yeat, so he recelved only a portion of the annual salary for that year. Answer is complete but not entirely correct. EXHIBIT 13-1 Defined Benefit Plans Minimum Vesting Schedules* * Pencent of employee benefit no longer subject to forfeiture. Source: 411(a)
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