Use the Following Formula to Answer the Indicated Question: Benefit

question 115

Multiple Choice

Use the following formula to answer the indicated question: Benefit amount = Maximum award - 0.4 (Wages in excess of ceiling)
Lucy is retired and earns $12,000 per year working part-time.She is entitled to a maximum Social Security retirement benefit of $14,000.Social Security regulations allow her to earn $9,000 and still get maximum benefits.Lucy's total income,including Social Security benefits,is

• A)$9,000.
• B)$23,000.
• C)$24,800.

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