I need help with number 16 its accounting

AaBbCcodEe AaBbCcDdEe AaBbCcDc AaBbCcDdE Normal No Spacing Heading1 Heading 2 on plan assets- Current year's earnings on the plan assets in the form of interest and dividend income. Question #16 -Read page 1005. Specifical illustration 17-6 and 17-64 After workingthrough this ilustration, complete the following question: Baby Deal's Inc has a defined benefit pension plan that specifies annual retirement benefits equal to: 1.2% Service years x Final year's salary Morgan Singh was hired by Baby Deal's Ins at the beginning of 2000. Morgan Singh is expected to retire at the end after 40 years of service. Her retirement is expected to span 20 years. At the end of 2016, 17 years after being hired, her salary is $78,000. Baby Deal's actuary projects Morgan Singh's salary to be $150,000 at retirement. The actuary's discount rate is 8%. Estimate the amount of Morgan Singh's annual retirement payments for the 17 retirement years earned as of the end of 2016. Assume Baby Deal's is using the PBO. a) b) Suppose Morgan's pension plan permits a lumpsum 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. What is Baby Deal's Inc projected benefit obligation at the end of 2016 with respect to Morgan Singh? o) d) What would her annual retirement payments beleamed as of the end of 2017? Question #17: what does it mean if a pension is underfunded? What does it mean if a pension is overfunded? Underfunded basically means that the company's liabilities are exceeding what should be guaranteed in the retirement plan. And overfunded is more money needed to payout on what is required. 4 5 7 8