Your friends father just turned 55 and is thinking of joining CPF LIFE. He tells you that if he sets aside the Basic Retirement Sum (BRS) of $90,500 today, he can expect an approximate monthly payout from age 65 of $780 for as long as he shall live. Alternatively, if he sets aside the Full Retirement Sum (FRS) of $181,000 today, he can expect an approximate monthly payout from age 65 of $1,440. Assume that the interest rate is 4% and that compounding occurs monthly. (a) What is the breakeven age for the BRS plan? (b) What is the breakeven age for the FRS plan? (c) At what life expectancy would your friends father be indifferent between the two (2) plans? Which plan should he choose given male life expectancy in Singapore?