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Find the amount of long-service leave

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Question 1: Mai currently works for Eagle Ltd. At 30 June 2010 her current salary was $55 000. She has worked for Eagle Ltd for 4 years. Her long-service leave entitlements are 13 weeks leave after she had worked for 10 years. Mai is expected to take her long-service leave as soon as it vests. The rate for government bonds with the appropriate number of years to maturity was 5%. Mai's projected future salary in 6 years time is $65 000. There is a 30% probability that Mai would stay with the company long enough for his LSL to vest. The amount of long-service leave that needs to be provided by Eagle Ltd in their financial statements for the year ended 30 June 2010 for Mai is: (ignore rounding errors):

Option A. $1 231

Option B. $4 850

Option C. $1 604

Option D. $1 455

Reference no: EM132495254

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