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You have accepted a job with a salary of $100,000. In addition you will be covered by a defined-benefit pension plan and receive health insurance.

You have accepted a job with a salary of $100,000. In addition you will be covered by a defined-benefit pension plan and receive health insurance. Assume you have no other sources of income and your employer makes $15,000 of contributions to your pension plan and pays $7,500 for your health insurance.

1. Based only on the information provided, how much cash will you receive?

2. Based only on the information provided, what will be your gross income for the year?

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