Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.2% x service years * final year's payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2010 and is expected to retire at 2044 after 35 years' service. Her retirement is expected to span 18 years. Davenport's salary is $95,000 at the end of 2024 company's actuary projects her salary to be $305,000 at retirement. The actuary's discount rate is 9%. 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: 1. What is the company's projected benefit obligation at the beginning of 2024 (after 14 years' service) with respect to Daver Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2024 s 3. What is the company's service cost for 2024 with respect to Davenport? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. 4. What is the company's interest cost for 2024 with respect to Davenport? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. 5. Combine your answers to requirements 1, 3, and 4 to determine the company's projected benefit obligation at the end of 2 15 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. 1. Project benefit obligation 2. Annual retirement payments 3. Service cost 4 Interest cost 5. Projected benefit obligation $ $ $ $ $ 51,240 3,660 6,750 4,612 62,608

Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.2% service years x final year's payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2010 and is expected to retire ai 2044 after 35 years' service. Her retirement is expected to 5 pan 18 years. Davenport's salary is $95,000 at the end of 2024 company's actuary projects her salary to be $305,000 at retirement. The actuary's discount rate is 9%, Note: Use tables, Excel, or a financiol calculotor. (FV af \$1. PV of \$1. FVA of S1, PVA of S1, FVAD of \$1 and PVAD of \$1) Required: 1. What is the company's projected benefit obligation at the beginning of 2024 (after 14 years' service) with respect to Daver Note: Do not round intermediate colculations. Round your final answer to the nearest whole dollar. 2. Estimate by the projected benefits approach the portion of Davenport's annual retirement payments attributable to 2024 s 3. What is the company's service cost for 2024 with respect to Davenport? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. 4. What is the company's interest cost for 2024 with respect to Davenport? Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. 5. Combine your answers to requirements 1, 3, and 4 to determine the company's projected benefit obligation at the end of 2 15 years service) with respect to Davenport: Note: Do not round intermediote calculations. Round your final answer to the nearest whole dollar. (3) Answer is complete but not entirely correct. Sachs Brands's defined berhefit pension plan specifies annual retirement benefits equal to 12% x service years *i final year's salary. piryable at the end of each yeat Angela Davenport was hired by Sachs at the beginning of 2010 and is expected to retire at the end of 2044 after 35 year service Her retirement is expected to span 18 years. Davenport's salary is 595,000 at the end of 2024 and the compary's actuaty projects hes satary to be $305,000 at retirement. The actuary's discount rate is 9%. Nore: Use tables. Excel, or a financial calculator. (PV of S1. PV ot S1. FVA of S1. PYA of S1, FVAD otS1 and PVAD of Si]) Rectired: 1. What is the company's projected benefit obligation at the beginning of 2024 (aftel 14 years' service) with respect to Davenport? Note: Do not round intermediate calculations. Round your final onswer to the nearest whole dollar. 2. Estimate by the projected behefits appcoach the portion of Davenport's antual retirement payments attributable to 2024 service 3. What is the compary's service cost for 2024 with respect to Davenport? Note: Do nor round intermediote calculations. Round your final answer to the nearest whole dollar. 4. What is the company's interest cost for 2024 with respect to Davenport? Note: Do not round intermediate colculations. Round your final answer to the nearest whole dollar: 5. Combine your answers to requarements 1,3 , and 4 to determine the company's projected benefit obligation at the end of 2024 (afer 15 years servicel with respect to Divenport Note: Do not round intermediate colculations. Round your final answer to the nearest whole dollar