Question: On January 1 , 2 0 2 4 , Ravetch Corporation s projected benefit obligation was $ 3 4 million. During 2 0 2 4

On January 1,2024, Ravetch Corporations projected benefit obligation was $34 million. During 2024, pension benefits paid by the trustee were $4 million. Service cost for 2024 is $14 million. Pension plan assets (at fair value) increased during 2024 by $6 million as expected. At the end of 2024, there were no pension-related other comprehensive income (OCI) accounts. The actuarys discount rate was 10%.
Required:
Determine the amount of the projected benefit obligation at December 31,2024.
Note: Enter your answers in millions rounded to 2 decimal places (i.e.,5,500,000 should be entered as 5.50). Amounts to be deducted should be indicated with a minus sign.

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