USE THE FOLLOWING INFORMATION FOR QUESTIONS #1-7: The company has a defined benefit plan Salary at the end of 2005 Employment started at the beginning of Retirement expected after Retirement year expected to be Retirement period is expected to be Interest Rate $ 85,000 2001 20 years of service 2020 25 years 8.0% Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 5 years 2.5% $430,000 5. See the change in facts below for the remainder of this problem set. What is the amount of Prior Service Cost related to this plan amendment? Percentage of service yrs. & salary Change made at the beginning of 3.0% 2008 A. $63,194 B. $65,203 C. $24,728 D. $54,167 6. What is the revised interest cost associated with the PBO for 2008 due to the amendment in Question #5? Enter the amount as positive with no symbols. 7. What is the PBO balance at the end of 2008? A. $437,471 B. $467,992 C. $389,994 D. $409,500 USE THE FOLLOWING INFORMATION FOR QUESTIONS #1-7: The company has a defined benefit plan Salary at the end of 2005 Employment started at the beginning of Retirement expected after Retirement year expected to be Retirement period is expected to be Interest Rate $ 85,000 2001 20 years of service 2020 25 years 8.0% Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 5 years 2.5% $430,000 5. See the change in facts below for the remainder of this problem set. What is the amount of Prior Service Cost related to this plan amendment? Percentage of service yrs. & salary Change made at the beginning of 3.0% 2008 A. $63,194 B. $65,203 C. $24,728 D. $54,167 6. What is the revised interest cost associated with the PBO for 2008 due to the amendment in Question #5? Enter the amount as positive with no symbols. 7. What is the PBO balance at the end of 2008? A. $437,471 B. $467,992 C. $389,994 D. $409,500