The ABC corporation pension plan provides a lifetime annual income to its employees upon retirement at age 65. The plan provides 2% for each year of service of the average of the employee's earnings for their last 2 years on the job.

Mark retires at age 65 with 20 years of service. His earnings for his last 2 years were $58,440 and $59,959. What is his annual pension benefit?

Round your answer to the nearest dollar.