7.) Based on the following information calculate the present value of retirement benefits as of the retirement date. Write in the amount on the cover sheet. $ FACTS: The company has a defined benefit plan Joe's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 104,000 45 20 2.0% years of service years years 15 2.0% 299,000 $ 7.) Based on the following information calculate the present value of retirement benefits as of the retirement date. Write in the amount on the cover sheet. $ FACTS: The company has a defined benefit plan Joe's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 104,000 45 20 2.0% years of service years years 15 2.0% 299,000 $