Question 20 Spoints Big Three Industries has a defined benefit pension plan that specifies annual retirement benefits equal to 13% x Service years x Final Year's salary 15 years ago, Kate Pearson was hired by Big Three Pearson is expected to retire after 40 years of service. Her retirement is expected to span 20 years. At the end of this you, 15 years after being hired, her salary is $63,840. The company's actuary projects Pearson's salary to be $84.170 at retirement. The actuary's discount rate is 8% PVA Factors PVA n 15, 18% 8.55948 PVA 20,8% 9.81815 PVA, n25,1-896 10.67478 PV Factors PV, n 15,18% 31524 PV, 20,8% 21455 PV, 25.18% 14602 Suppose Big Three's pension plan permits a lump sum payment at retirement in lieu of annuity payments. What is the lump-sum equivalent Pearson would receive