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Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.5% service years final year's salary, payable at the end of each year.

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Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.5% service years final year's salary, payable at the end of each year. Angela Davenport was hired by Sechs 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 $98,000 at the end of 2024 and the company's actuary projects her salary to be $320,000 at retirement. The actuary's discount rate is 8%. Note: Use tables, Excel, or a financial calculator. (BV of S1, PV of S1, FVA of 51, PVA of S1. FYAD of S1 and PVAD of (\$1) At the beginning of 2025 , the pension formula was amended to: 1.65% Service years Final year's salnry The amendmeat was made retroactive to apply the increased benefits to prior service years. Required: 1. What is the company's prior service cost at the beginning of 2025 with reopect to Davenport after the amendment described above? 2. Since the amendment occurred at the beginning of 2025 , amortization of the prior service cost begine in 2025. What is the prior service cost amortization that would be included in penslon expense? 3. What is the service cont for 2025 with respect to Davenport? 4. What is the interent cont for 2025 with respect to Davenport? 5. Calculate pension expense for 2025 with respect to Davenport, assuming plan assets attributable to her of $220,000 and a rate of return (actual and expected) of 10\%6. Notei For all requirements, do not round intermediate calculations, Round your final answers to the nearest whole dollar. \begin{tabular}{|l|} \hline 1. Prior service cost \\ \hline 2. Prior service cost amortization \\ \hline 3. Service cost \\ \hline 4. Interest cost \\ \hline 5. Pension expense \\ \hline \end{tabular}

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