Problem $17-2($Static$)$ PBO calculations; present value concepts $[$LO$17-3]$

Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to $1\mathrm{.}6\%$ service years $$ final year's salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of $2010$ and is expected to retire at the end of $2044$ after $35$ years' service. Her retirement is expected to span $18$ years. Davenport's salary is $$90,000$ at the end of $2024$ and the company's actuary projects her salary to be $$240,000$ at retirement. The actuary's discount rate is $7\%.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

$2.$ Estimate by the projected benefits approach the amount of Davenport's annual retirement payments earned as of the end of $2024.$

$3.$ What is the company's projected benefit obligation at the end of $2024$ with respect to Davenport?

Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.

$4.$ If no estimates are changed in the meantime, what will be the company's projected benefit obligation at the end of $2027($three years later$)$ with respect to Davenport?

Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.

$\backslash$table$[[2.$ Annual retirement payments,$],[3.$ Projected benefit obligation $2024,],[4.$ Projected benefit obligation $2027,]]$