Javier recently graduated and started his career with DNL Inc. DNL provides a defined benefit plan to all employees. Acc

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Javier recently graduated and started his career with DNL Inc.
DNL provides a defined benefit plan to all employees. According to
the terms of the plan, for each full year of service working for
the employer, employees receive a benefit of 1.5 percent of their
average salary over their highest three years of compensation from
the company. Employees may accrue only 30 years of benefit under
the plan (45 percent).
Determine Javier’s annual benefit on retirement, before taxes,
under each of the following scenarios (Use Exhibit
13-1): (Do not round intermediate calculations. Round
your final answers to the nearest whole dollar amount. Leave no
answer blank. Enter zero if applicable.)
b. Javier works for DNL for three years
and three months before he leaves for another job. Javier’s annual
salary was $56,000, $66,000, $71,200, and $73,400 for years 1, 2,
3, and 4, respectively. DNL uses a seven-year graded vesting
schedule.
Annual before-tax benefit ?
c. Javier works for DNL for six years and
three months before he leaves for another job. Javier’s annual
salary was $77,000, $87,000, $92,200, and $97,300 for years 4, 5,
6, and 7, respectively. DNL uses a five-year cliff vesting
schedule.
d. Javier works for DNL for six years and
three months before he leaves for another job. Javier’s annual
salary was $77,000, $87,000, $92,200, and $97,300 for years 4, 5,
6, and 7, respectively. DNL uses a seven-year graded vesting
schedule.
e. Javier works for DNL for 32 years and
three months before retiring. Javier’s annual salary was $177,500,
$187,500, $192,700, and $198,000 (note that he didn't work for the
entire year in the year he retired so he received only a portion of
the annual salary in the year he retired) for his final four
years of employment.