Question: Johnson & Johnson has a defined benefit pension plan for its employees. At the beginning of the year, the projected benefit obligation (PBO) is $20

Johnson & Johnson has a defined benefit pension plan for its employees. At the beginning of the year, the projected benefit obligation (PBO) is $20 billion, and the fair value of plan assets is $15 billion. During the year, the company contributes $4 billion to the plan and the pension expense is $3 billion. Calculate the ending PBO and the funded status of the pension plan at the end of the year.

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