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Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1 . 4 % times service years times final year's salary,
Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to times service years times 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:
Estimate by the projected benefits approach the amount of Davenport's annual retirement payments earned as of the end of
What is the company's projected benefit obligation at the end of with respect to Davenport?
Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar.
If no estimates are changed in the meantime, what will be the company's projected benefit obligation at the end of three years later with respect to Davenport?Annual retirement payments
Projected benefit obligation
Projected benefit obligation
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