Question: During the last 3 consecutive years, Larry earned his highest compensation of his career: $330,000, $335,000, & $350,000. He is covered by a defined benefit

During the last 3 consecutive years, Larry earned his highest compensation of his career: $330,000, $335,000, & $350,000. He is covered by a defined benefit pension plan that uses the Unit Credit Formula. Assuming a 3% credit per year of service and that Larry has completed 25 years of service, how much will Larry's annual defined benefit pension benefit be upon retirement in 2023? OA () C 1. $247,500 2. $238,333 3. $243,750 4. $265,000 O B C D

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