Your client has been employed by Coca$-$Cola for $17$ years, and currently earns $($ $ $74,000)$ per year. As an employee, they pay $(7\mathrm{.}65\%)$ FICA $($Social Security & Medicare$)$ tax on their income and does not expect to have earned income from work in retirement. They also expect the same Federal and State income tax burden in retirement that they have today. Your client currently saves $($ $ $16,000)$ per year and plans to pay off their home mortgage at retirement and live debt free. They currently spend $($ $ $1,200)$ per month on the mortgage. What do you expect their wage replacement ratio to be based on the above information $($use all available information to answer the question$)?$ a$.(41\mathrm{.}08\%)$ b$.(48\mathrm{.}73\%)$ c$.(51\mathrm{.}27\%)$ d$.(72\mathrm{.}89\%)$ Your client has been employed by Coca$-$Cola for $17$ years, and currently earns $\backslash (\backslash$$ $74,000\backslash )$ per year. As an employee, they pay $\backslash (7\mathrm{.}65\backslash \%\backslash )$ FICA $($Social Security $\backslash$& Medicare$)$ tax on their income and does not expect to have earned income from work in retirement. They also expect the same Federal and State income tax burden in retirement that they have today. Your client currently saves $\backslash (\backslash$$ $16,000\backslash )$ per year and plans to pay off their home mortgage at retirement and live debt free. They currently spend $\backslash (\backslash$$ $1,200\backslash )$ per month on the mortgage. What do you expect their wage replacement ratio to be based on the above information $($use all available information to answer the question$)?$ a$.\backslash (41\mathrm{.}08\backslash \%\backslash )$ b$.\backslash (48\mathrm{.}73\backslash \%\backslash )$ c$.\backslash (51\mathrm{.}27\backslash \%\backslash )$ d$.\backslash (72\mathrm{.}89\backslash \%\backslash )$