Grey Industries has a defined benefit pension plan that specifies annual retirement benefits equal to 1.7% * Service years * Final year's salary Derek Shepherd was hired by Grey at the beginning of 2001. Shepherd is expected to retire after 45 years of service. His retirement is expected to span 15 years. At the end of 2020, 20 years after being hired, his salary is $70,000. The company's actuary projects Shepherd's salary to be $90,000 at retirement. The actuary's discount rate is 6%. Here are the various present value factors (USE ONLY THESE FACTORS) PVA Factors PV Factors PVA, n=15, i=6% 9.71225 PV, n=15, 1-6% 41727 PVA, n=20,56% 11.46992 PV, n=20,16% 31180 PVA, n=25, 1-6% PV, n 25. I +6% 12.78336 .23300 a. Estimate the amount of Derek Shepherd's annual retirement payment for his retirement years earned as of the end of 2020. b. Suppose Grey's pension plan permits a lump-sum payment at retirement in lieu of annuity payments. Determine the lump-sum equivalent as the present value as of the retirement date of annuity payments during the retirement period. c. What is the company's projected benefit obligation at the end of 2020 with respect to Derek Shepherd? d. Even though pension accounting centers on the PBO calculation, the ABO still must be disclosed in the pension disclosure note. What is the company's accumulated benefit obligation at the end of 2020 with respect to Derek Shepherd