There are not "established formulas" or, to the extent that they are, the coefficients and exponents are not determined. The parties always argue about the discount rates and whatnot.
"""Results. At a discount rate of 3 percent, males and females aged 20-24 have the highest PVLE — $1,517,045 and $1,085,188 respectively. Lifetime earnings for men are higher than for women. Higher discount rates yield lower values at all ages."""
Sure, no argument there, I was just referring to research like this: https://escholarship.org/uc/item/82d0550k
"""Results. At a discount rate of 3 percent, males and females aged 20-24 have the highest PVLE — $1,517,045 and $1,085,188 respectively. Lifetime earnings for men are higher than for women. Higher discount rates yield lower values at all ages."""