Suellen meets with licensee Nick to discuss selling the home where she has lived for 30 years. Suellen wants enough money from the sale to purchase a condo in a new community and buy some new furniture without going into debt. She tells Nick she needs to make $215,000 on the sale. Anything he can get over and above that amount will be his to keep. This is an example of a(n)

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.