10.) Calculate the total prior service cost using the following information. Write your answer on the cover sheet. FACTS: The company has a defined benefit plan Hailey's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate $ 112,000 30 40 20% years of service years years Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 10 2.0% $ 260,000 AFTER THE PLAN IS INITALLY ADOPTED A CHANGE IS MADE TO THE BENEFITS CALCULATION AS FOLLOWS: Percentage of service yrs. & salary Change made at the beginning of 5.0% Changed from 2.0% previously 2017