Macy is looking forward to her retirement on January 1, 2020, after 30 years of working for the Canada Revenue Agency (CRA). She is part of a Defined Benefit Pension Plan (DBPP) which uses the best three consecutive years to determine her pension benefit amount at retirement. Macy's annual pension formula is 2% times her years of service. Macy has provided you with the last 8 years of her gross salary for you to calculate her pension benefit:
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Macy is looking forward to her retirement on January 1, 2020, after 30 years of working for the Cana...
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