7.) Based on the following information calculate the present value of retirement benefits as of the retirement date. Write in the amount on the cover sheet $ FACTS: The company has a defined benefit plan Trevor's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be 47,000 27 8 1.0% years of service years years 6 20% $ 300,000 8.) Using the information below calculate the present value of the retirement benefits (projected benefits obligation) as of the current date (end of 2017). Write the answer in on the cover sheet. FACTS: The company has a defined benefit plan Riley's salary at the end of 2017 Retirement expected after Retirement period is expected to be Interest Rate $ 64,000 37 16 1.5% years of service years Benefits are calculated as a formula as the product of: Service already provided Percentage Final year's salary is projected to be years 17 2009 $ 175,000