Jan $1$st$,2025$: Enrique Iglesias is an employee of Bailando Inc. He has been working there since Jan $1$st$,2020$ and currently eams $$150,000$ annually. His salary at retirement on Dec $31$ st$,2044$ is expected to be $$350,000.$ Actuaries estimate that he will collect retirement benefits for $20$ years post$-$retirement. His annual retirement benefit amount is calculated using $2\%$ times the number of years of service times final$-$year salary.

a$)$ Calculate the PBO of Bailando Inc. as of Jan $1$st$,2025$ & $2026($i$.$e$,$ Dec $31$st$,2024$ & $2025)$

b$)$Assuming Bailando Inc.$\text{'}$s interest expense is $5\%$ and the expected retum on their Pension Assets is $7\%$ and further that actual returns equal expected returns, calculate the pension expense for Bailando Inc. for the year of $2025$ and $2026($Jan $1$st $2025$ to Dec $31$st$,2025,$ Jan $12026$ to Dec $312026).$