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Sharon has calculated that she needs $70000 her first year of retirement to maintain her standard of living. She expects to receive $1000 per month

Sharon has calculated that she needs $70000 her first year of retirement to maintain her standard of living. She expects to receive $1000 per month from her employer defined-benefit pension and $1500 per month from Social Security. What is her annual retirement income shortfall?

$15000

$70000

$52000

$40000

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