Sandra Hilton of Sisseton, South Dakota, age 60, recently was in a vehicle accident, was hospitalized, and then suffered a heart attack. She took a leave of absence from her long-time job as adata analyst for an environmental lobbying firm to recuperate. Using Appendix B answer these questions:a. If her earnings averaged $35,000, what would be her monthly Social Security disability benefit? Round your answer to the nearest dollar.$b. If her earnings instead averaged $80,000, what would be the monthly benefit? Round your answer to the nearest dollar.$ Appendix B.1Monthly Retirement Benefits at Age 67 in Today's DollarsPer monthPer yearEstimates of Social Security Benefits for the Three Major SocialSecurity ProgramsAs a percentage of incomeMonthly Retirement Benefits at Age 67 in Future DollarsPer MonthPer YearMonthly Disability Benefits if You Became Disabled in 2018Individual benefit per monthIndividual benefit per yearAs a percentage of incomeMaximum family benefit per monthMaximum family benefit per yearAs a percentage of incomeMonthly Survivor's Benefits if You Died in 2018Individual benefit per monthIndividual benefit per yearAs a percentage of incomeMaximum family benefit per monthMaximum family benefit per yearAs a percentage of income$35,000$ 1,480$17,76051%$ 6,170$74,040$ 1,330$15,96046%$ 2,000$24,00069%$ 1,040$12,48036%$ 2,380$28,56082%$50,000$ 1,890$22,68045%$ 7,860$94,320$ 1,690$20,28041%$ 2,530$30,36061%$ 1,310$15,72031%$ 3,210$38,52077%Present Annual Earnings$65,000$80,000$ 2,260$ 27,12042%$ 9,550$114,600$ 2,040$ 24,48038%$ 3,060$36,72056%$ 1,560$ 18,72029%$ 3,710$ 44,52068%$ 2,450$ 29,40037%$ 10,410$124,920$ 2,280$ 27,36034%$ 3,420$ 41,04051%$ 1,750$ 21,00026%$ 4,090$ 49,08061%$95,000$ 2,640$ 31,68033%$ 11,200$134,400$ 2,460$ 29,52031%$ 3,690$ 44,28047%$ 1,890$ 22,68024%$ 4,700$ 52,80056%$120,000$ 2,940$ 35,28029%$ 12,440$149,280$ 2,720$ 32,64029%$ 4,080$ 48,96041%$ 2,090$ 25,08021%$ 4,870$ 58,44049%

Social security benefits refer to the amount that is received by an applicant after completing the…

Answered: Sandra Hilton of Sisseton, South…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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