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Serway Corporation has a defined benefit plan for its employees. On retirement at age 65, the plan provides 1.85% of the 4-year final average salary
Serway Corporation has a defined benefit plan for its employees. On retirement at age 65, the plan provides 1.85% of the 4-year final average salary for each year of service, up to a maximum of 60%. Betsy retired this year at age 65 with 20 years of service. Her last 4 years' salaries were $64,641, $66,580, $70,242, and $72,349. What is her pension benefit
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