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Please show all work to explain how you got the answer. Thank you kindly. Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal

Please show all work to explain how you got the answer. Thank you kindly.

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Sachs Brands' defined benefit pension plan specifies annual retirement benefits equal to: 14% x service years in al years salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2004 and is expected to retire at the end of 2038 after 35 years' service. Her retirement is expected to span 18 years. Davenport's salary is $97,000 at the end of 2018 and the company's actuary projects her salary to be $315,000 at retirement. The actuary's discount rate is 7%. Fy of $1,PV of SLEVA of St. PVA of S1. FVAD of $1 and PVAD of S) (Use approprlate factor(s) from the tables provided.) Requirec 2. Estimate by the projected benefits approach the amount of Davenport's annual retirement payments earned as of the end of 2018. 3. What Is the company's projected benefit obligation at the end of 2018 with respect to Davenport? (Do not round Intermedlete calculatlons. Round your final answer to nearest whole doller) 4. If no estimates are changed In the meantime, what will be the company's projected benefit obligation at the end of 2021 (three years later) with respect to Davenport? (Do not round Intermediate calculations. Round your final answer to nearest whole doller.) 2. 3. 4. Annual retirement payments Projected benefit obligation 2018 Projected benefit obligation 2021

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