Spiceland Corporations defined benefit pension plan specifies annual retirement benefits (payable at the end of each year) equal to: 1.5% x service years x final years salary Andy Davis was hired by Spiceland at the beginning of 1999 and is expected to retire at the end of 2030 after 32 years of service. His retirement is expected to span 20 years. Davis salary is $190,000 at the end of 2011 and the companys actuary projects his salary to be $390,000 at retirement. The actuarys discount rate is 6%. Requirements: 1. Using the projected benefits obligation approach, what is the amount of Davis estimated annual retirement payments earned as of the end of 2011 (after Davis has worked 13 years). 2. What is the companys projected benefit obligation at the end of 2011? 3. If no estimates are changed in the meantime, what will be the companys projected benefit obligation at the end of 2014 (three years later)