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PLEASE HELP ASAP!!! Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal to: 1.3% x service years x final years salary, payable at

image text in transcribedimage text in transcribedPLEASE HELP ASAP!!!

Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal to: 1.3% x service years x final years salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2002 and is expected to retire at the end of 2036 after 35 years' service. Her retirement is expected to span 18 years. Davenport's salary is $87,000 at the end of 2016 and the company's actuary projects her salary to be S265,000 at retirement. The actuary's discount rate is 9%. (A of 31, PV of$1 FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required 1. What is the company's projected benefit obligation at the beginning of 2016 (after 14 years' service) with espect to Daenport? Project benefit obligation 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2016 service Annual retirement payments 3. What is the company's service cost for 2016 with respect to Davenport? Service cost

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