WORKOUT MULTIPLE CHOICE. Work out the problem using the space and scratch paper the provided, then choose the one alternative that best completes the statement or answers question. (20 points each) Accord Advisory's defined benefit pension plan specifies annual retirement benefits equal to: 1.5% x actual service years x final year's expected salary Tom Camry was hired by Accord at the end of 2003/beginning of 2004 and is expected to retire at the end of 2048. His retirement is expected to span 18 years, and retirement payments are to be made at the end of each year of retirement. At the end of 2018, Camry's salary is $80,000. The actuary projects his salary to be 5250,000 at retirement. The actuary's discount rate is 7% 13) At the end of 2018, Tom Camry has worked 15 years, and has 30 years left until retirement What is Accord's projected benefit obligation at the end of 2018 with respect to Camry? a) $ 74,332 b) $ 79,535 )$ 167,405 d) $ 23,786 14) At the beginning of 2019, the pension formula was amended to: 1.65% x actual service years x final year's expected salary What are the prior service costs associated with this plan amendment? a) S 5,55o. b) $5,451 c) $ 7,434 d) $4,959