8) Using the information below calculate the present value of the retirement benefits (projected benefits obligation) as of the current date (end 2017), Write the answer in on the cover sheet FACTS: The company has a defined benefit plan Cindy's salary at the end of 2017 Retirement expected after Retirement period is expected to be 3 75,000 years of service years K +O Service 15 Houo long Shell rece Interest Rate Benefits are calculated as a formula as the product of Sha?ll rece Service already prov Percentage years Final years salary is projected to be S 276,000 12 Page 2 of 7