7. Best Buy uses a final average formula to calculate an employee’s pension benefits. The amount used in the calculations is the salary average of the final five years of employment. The retiree will receive an annual benefit that is equivalent to 1.2% of the final average for each year of employment. Nahal is retiring at the end of this year, after 23 years of employment at Depot City. Calculate her annual retirement pension given that her final five years of salaries are $63,000; 63,700; 64,000; 64,000; and 64,800.