7. C Companys defined benefit pension plan specifies annual retirement benefits equal to 2.0% times service years times final years salary, payable at the end of each year. Employee number 99 was hired by C at the beginning of 2010 and is expected to retire at the end of 2039. Retirement is expected to last 25 years. 99s salary is $100,000 at the end of 2019 and the actuary projects her salary to be $180,000 at retirement. The discount rate is 8%.

Required: show the computing process

1. Estimate using the Projected benefits approach the amount of 99s annual retirement payments earned as of the end of 2019.
2. What is Cs projected benefit obligation at the end of 2019 with respect to 99.
3. If no estimates are changed, what will Cs projected benefit obligation be at the end of 2026 with respect to 99.