A. Pension Problem RAGE Agin Inc. has one employee, Fred. Agin began operations and started a defined benefit pension plan on 1/1/2020 that would pay Fred an annual retirement benefit equal to: 1.5% x years of employment x salary at retirement Fred is expected to retire on 12/31/2022 (that is, after 3 years with the company). Company will make his first retirement benefit payment on 12/31/2023 (one year after retirement). Fred will receive his 5th and final payment on 12/31/2027 and will promptly die (in actuality it's a mortality estimate). His salary is expected to be $100,000 on the retirement date. A 10% discount rate is used for calculating pension obligations. On 1/1/2020 the company pays $3,000 into a pension fund (a 6% return is expected and 8% actually received in 2020). a. Estimate the Projected Benefit Obligation on 12/31/2020. b. Estimate the Pension Expense for the year ended 12/31/2020. c. What is the amount overfunded or underfunded for the pension plan on 12/31/2020?