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Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1 . 2 % service years final year's salary, payable at the end
Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to service years final year's salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of and is expected to retire at the end of after years' service. Her retirement is expected to span years. Davenport's salary is $ at the end of and the company's actuary projects her salary to be $ at retirement. The actuary's discount rate is
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
What is the company's projected benefit obligation at the beginning of after years' service with respect to Davenport? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.
Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to service.
What is the company's service cost for with respect to Davenport?
Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.
What is the company's interest cost for with respect to Davenport?
Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.
Combine your answers to requirements and to determine the company's projected benefit obligation at the end of after years' service with respect to Davenport.
Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.
Answer is complete but not entirely correct.
table Project benefit obligation,$
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