El Paso Electricity (EPE) Inc.'s defined benefit pension plan specifies annual retirement benefits equal to: 1.5% actual service years x final year's expected salary Aaron Jones was hired at the end of 2005 /beginning of 2006 and is expected to retire at the end of 2050 . His retirement is expected to span 18 years, and retirement payments are to be macus at the end of each year of retirement. At the end of 2020 , his salary is $80,000. The actuary projects his salary to be $250,000 at retirement. The actuary's discount rate is 7%. 1) At the end of 2020 , Aaron has worked 15 years, and has 30 years left until retirement. What is EPE's projected benefit obligation (PBO) at the end of 2020 with respect to Aaron? A) 579,535 . B) $74,332. C) \$167,405. D) \$ 23,786