TheXYZ 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 ofthe employee's salary upon retirement. Moreover, those retiring after 65 have their benefit increased by 0.7% for each year beyond 65 that they work.

Caitlinretires at age67 with 16 years of service. If her salary upon retirement is $60,655, what is her annual pension benefit?

Round your answer to the nearest dollar.