Check my work Three employees of the Horizon Distributing Company will receive annual pension payments from...

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Check my work Three employees of the Horizon Distributing Company will receive annual pension payments from the company when they retire. The employees will receive their annual payments for as long as they live. Life expectancy for each employee is 15 years beyond retirement. Their names, the amount of their annual pension payments, and the date they will receive their first payment are shown below: (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Annual Date of First Employee Tinkers $22,000 Payment Payment 12/31/24 Evers Chance 27,000 32,000 12/31/25 12/31/26 Required: 1. Compute the present value of the pension obligation to these three employees as of December 31, 2021. Assume a 10% interest rate. 2. The company wants to have enough cash invested at December 31, 2024, to provide for all three employees. To accumulate enough cash, they will make three equal annual contributions to a fund that will earn 10% interest compounded annually. The first contribution will be made on December 31, 2021. Compute the amount of this required annual contribution. (For all requirements, Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Employee 1. Tinkers Evers Chance 2. Amount of annual contribution PV < Prev 15 of 15 Next> MacBook Check my work Three employees of the Horizon Distributing Company will receive annual pension payments from the company when they retire. The employees will receive their annual payments for as long as they live. Life expectancy for each employee is 15 years beyond retirement. Their names, the amount of their annual pension payments, and the date they will receive their first payment are shown below: (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Annual Date of First Employee Tinkers $22,000 Payment Payment 12/31/24 Evers Chance 27,000 32,000 12/31/25 12/31/26 Required: 1. Compute the present value of the pension obligation to these three employees as of December 31, 2021. Assume a 10% interest rate. 2. The company wants to have enough cash invested at December 31, 2024, to provide for all three employees. To accumulate enough cash, they will make three equal annual contributions to a fund that will earn 10% interest compounded annually. The first contribution will be made on December 31, 2021. Compute the amount of this required annual contribution. (For all requirements, Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.) Employee 1. Tinkers Evers Chance 2. Amount of annual contribution PV < Prev 15 of 15 Next> MacBook