Century$-$Fox Corporation$$s employees are eligible for postretirement health care benefits after both being employed at the end of the year in which age $60$ is attained and having worked $20$ years. Jason Snyder was hired at the end of $2001$ by Century$-$Fox at age $34$ and is expected to retire at the end of $2029($age $62).$ His retirement is expected to span five years $($unrealistically short in order to simplify calculations$).$ The company$$s actuary has estimated the net cost of retiree benefits in each retirement year as shown below. The discount rate is $6\%.$ The plan is not prefunded. Assume costs are incurred at the end of each year. 

 

 

 Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$ 

 

 

Year Expected Age Net Cost

 

$203\mathrm{0 \; \; \; \; }6\mathrm{3 }$          $ $4,000$

$$ 

$203\mathrm{1 \; \; \; \; }64\mathrm{ \; \; \; \; \; \; 4},400$

 

$2032\mathrm{ \; \; \; \; \; 6}\mathrm{5 \; \; \; \; \; \; }2,300$

 

$203\mathrm{3\; \; \; \; \; }66\mathrm{ \; \; \; \; \; \; 2},500$

 

$203\mathrm{4\; \; \; \; \; }67\mathrm{ \; \; \; \; \; \; \; 2},800$

$$

 

Required:

 

Calculate the present value of the net benefits as of the expected retirement date.

 

 With respect to Snyder, what is the company$$s expected postretirement benefit obligation at the end of $2024?$ 

 

 With respect to Snyder, what is the company$$s accumulated postretirement benefit obligation at the end of $2024?$ 

 

 With respect to Snyder, what is the company$$s accumulated postretirement benefit obligation at the end of $2025?$ 

 

 What is the service cost to be included in $2025$ postretirement benefit expense? 

 

 What is the interest cost to be included in $2025$ postretirement benefit expense? 

 

 Show how the APBO changed during $2025$ by reconciling the beginning and ending balances.