$3.$ Michelle received $$7,700$ in OAS pension income in $2022.$ Her total income for $2022$ was $$114,000.$ For $2022,$ the minimum income threshold is $$81,761.$

a$.$ What is her monthly OAS clawback? SHOW YOUR WORK. $(2$ marks$)$

b$.$ What is the clawback period? $(1$ mark$)$

FNCE$3314$ Retirement and Estate Planning TERM TEST $2$ Page $5$ of $7$

c$.$ Assuming that her OAS payment does not increase with inflation, what is Michelle$$s new OAS payment? SHOW YOUR WORK. $(1$ mark$)$

d$.$ At what level of $2022$ income would she have her entire OAS benefit clawed back? $(1$ mark$)$