As a single employee, Joseph Cuneo of Obrien Company has received a defined benefit pension program created by the company. Joseph's greatest lifetime income multiplied by (2 percent Times the number of years with the firm) are equivalent to the annual pension payouts. Joseph has worked with Obrien Company throughout the first 10 years of 2015. In 2014, his annual salary was $50,000. The estimate is that Joseph will retire in 25 years, and his income rises will be around 3% every year. When Joseph retires, he will be given the first yearly pension payment after which he will have 15 years of income to look forward to. Find accumulated benefit obligation. Under NPV, when the cost of capital is high, you could choose short-term initiatives over long-term initiatives. Could there possibly be a shift in the IRR rating of two projects due to changes in income of capital? Please answer the question: Why or why not?