CALCULATOR FULL SCREEN PRINTER VERSiON BACK NEXT Exercise 6-14 Sheridan, Inc. is a furniture manufacturing company with 50 employees. Recently, after a long negotiation with the local labor union, the company decided to initiate a pension plan as a part of its compensation plan. The plan will start on January 1, 2017. Each employee covered by the plan is entitled to a pension payment each year ater retirement. As required by accounting standards, the controller of the company needs to report the pension obligation (liability). On the basis of a discussion with the supervisor of the Personnel Department and an actuary from an insurance company, the controller develops the following information related to the pension plan. Average length of time to retirement 15 years Expected life duration after retirement 10 years Total pension payment expected each year after retirement for all employees. Payment made at the end of the year $837,800 per year The interest rate to be used is 11 %. Cick here to view factor tables On the basis of the information above, determine the present value of the pension obligation (iability). (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) The present value of pension obligation (liability) CALOULATOR FULL SCREE PRINTER VERSON BACK Exercise 6-15 Tony Bogut just received a signing bonus of $986,200. His plan is to invest this payment in a fund that will earn 6% , compounded annually Click here to view factor tables If Bogut plans to establish the AB Foundation once the fund grows to $1,666,165, how many years untl he can establish the foundation? years Instead of investing the entire $986,200, Bogut invests $270,000 today and plans to make 9 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $1,666,165 foundation at the end of 9 years? (Round factor values to S decimal places, e-g. 1.25124 and final answer to 0 decimal places, e.g 458,581.) Payments Open Show Work Click if you would like fo Show Work for this
