Landon, age 47, is single and works at a local bank. His gro…

Landon, age 47, is single and works at a local bank. His gross salary is $100,000 annually. He invests 8% in his 401k plan, 10% into other investments, pays about $11,500 in federal income tax, and also pays FICA tax. His mortgage principal and interest is $1,500 per month and he expects to have it paid off by the time he retires in 20 years. Based on this information alone, calculate Landon’s wage replacement ratio.