explain plz

Clark industries has a defined benefit pension plan that specifies annual, year-end retirement benefits equal to 12% Service years * Final year's salary Stanley Mils was hired by Clark at the beginning of 2002 Mills is expected to retire at the end of 2046 after 45 years of service His retirement is expected to span 15 years. At the end of 2021.20 years after being hired, his salary is $80,000. The company's actuary projects Mills's salary to be $270,000 at retirement. The actuary's discount rate is 7% ( (FV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of S1) (Use oppropriote factor(s) from the tables provided.) Required: 1. Estimate the amount of Stanley Mills's annual retirement payments for the 15 retirement years eamed as of the end of 2021 . 2. Suppose Clark's pension plan permits a lump-sum payment at retirement in lieu of annuity payments. Determine the lump-sum equivalent as the present value as of the retirement date of annuity payments during the retirement period. 3. What is the company's projected benefit obligation at the end of 2021 with respect to Stantey Mills? 4. Even though pension accounting centers on the P8O calculation, the ABO still must be disclosed in the pension disclosure note. What is the company's accumulated benefit obligation at the end of 2021 with respect to Stanley Mills? 5. If we assume no estimates change in the meantime, what is the company's projected benefit obligation at the end of 2022 with respect to Stanley Mills? 6. What portion of the 2022 increase in the PBO is attributable to 2022 service (the service cost component of pension expense) and to accrued interest the interest cost component of pension expense)? (For all requirements, round final onswers to the nearest whole dollars.)