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A company's postretirement health care benefit plan had an APBO of $265,000 on January 1, 2016. During 2016, retiree benefits paid were $40,000. The discount
A company's postretirement health care benefit plan had an APBO of $265,000 on January 1, 2016. During 2016, retiree benefits paid were $40,000. The discount rate for the plan for this year was 10%. Service cost for 2016 was $80,000. Plan assets (fair value) increased during the year by $45,000. The amount of the APBO at December 31, 2016, was:
$225,000.
$305,000.
$331,500.
$371,500.
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