Homework Help Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comp Problem 17-3 (Algo) Service cost, Interest, and P80 calculations, present value concepts (L017-3] Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.3% service years final year's salary payable at the end of each year, Angela Davenport was hired by Sachs at the beginning of 2007 and is expected to retire at the end of 2041 after 35 years' service. Her retirement is expected to span 18 years, Davenport's salary is $96,000 at the end of 2021 and the company's actuary projects het salary to be $310.000 at retirement. The actuary's discount rate is 6%, FV of St. PV of St. FVA of 51 PVA OS1 EVAD of $1 and PVAD 150 (Use appropriate factors) from the tables provided.) Required: 1. What is the company's projected benefit obligation at the beginning of 2021 (after 14 years' service with respect to Davenport (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2021 service, 3. What is the company's service cost for 2021 with respect to Davenport? (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) 4. What is the company's interest cost for 2021 with respect to Davenport? (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) 5. Combine your answers to requirements 1 3. and 4 to determine the company's projected benefit obligation at the end of 2021 fafter 15 years' services with respect to Davenport (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) Answer is complete but not entirely correct. Project benefit obligation + 2 > 137065 40 6.790 Service cost rest Preberftation 5 1 74403 is 5 W R. Y F G . Homework Help Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate comp Problem 17-3 (Algo) Service cost, Interest, and P80 calculations, present value concepts (L017-3] Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.3% service years final year's salary payable at the end of each year, Angela Davenport was hired by Sachs at the beginning of 2007 and is expected to retire at the end of 2041 after 35 years' service. Her retirement is expected to span 18 years, Davenport's salary is $96,000 at the end of 2021 and the company's actuary projects het salary to be $310.000 at retirement. The actuary's discount rate is 6%, FV of St. PV of St. FVA of 51 PVA OS1 EVAD of $1 and PVAD 150 (Use appropriate factors) from the tables provided.) Required: 1. What is the company's projected benefit obligation at the beginning of 2021 (after 14 years' service with respect to Davenport (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2021 service, 3. What is the company's service cost for 2021 with respect to Davenport? (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) 4. What is the company's interest cost for 2021 with respect to Davenport? (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) 5. Combine your answers to requirements 1 3. and 4 to determine the company's projected benefit obligation at the end of 2021 fafter 15 years' services with respect to Davenport (Do not round Intermediate calculations. Round your final answer to the nearest whole dollar) Answer is complete but not entirely correct. Project benefit obligation + 2 > 137065 40 6.790 Service cost rest Preberftation 5 1 74403 is 5 W R. Y F G