Cline Company has a defined benefit pension plan which covers Melissa Price, the company's only employee. Melissa has been with the company for 28 years and makes an annual salary of $47,000 per year. The retirement benefit amount is $31,920 per year. Melissa is projected to retire in 16 years. Based on actuarial estimates, the appropriate discount rate is 3% and Melissa is expected to collect her retirement benefit for 17 years. Assume payments to Melissa are made at the end of the year. What is the present value of the retirement benefit and the projected benefit obligation? Complete the following from the perspective of Cline Company. Which of the following financis sratement item is irmacted in this fransaction? The problem is solving for: The calculabon involvet Table Method STEP 1: 2: Cline Company has a defined benefit pension plan which covers Melissa Price, the company's only employee. Melissa has been with the company for 28 years and makes an annual salary of $47,000 per year. The retirement benefit amount is $31,920 per year. Melissa is projected to retire in 16 years. Based on actuarial estimates, the appropriate discount rate is 3% and Melissa is expected to collect her retirement benefit for 17 years. Assume payments to Melissa are made at the end of the year. What is the present value of the retirement benefit and the projected benefit obligation? Complete the following from the perspective of Cline Company. Which of the following financis sratement item is irmacted in this fransaction? The problem is solving for: The calculabon involvet Table Method STEP 1: 2