Perry Industries has a defined benefit pension plan that specifies annual, year-end retirement benefits equal to 1.3%x Service years x Final year's salary. Carol was hired by Perry at the beginning of 2016 . Clark is expected to retire at the end of 2055 after 40 years of service. Her retirement is expected to span 15 years. At the end of 2025,10 years after being hired, her salary is $60,000. The company's actuary projects Clark's salary to be $210,000 at retirement. The actuary's discount rate is 6%. 10 11 Percentage of final year's salary 12 Total years of service 13 Service years through December 31, 2025 14 Clark's salary at December 31,2025 Retirement is expected to span Clark's projected salary at retirement Actuary's discount rate Required: 1. Estimate the amount of Carol's annual retirement payments for the 15 retirement years earned as of the end of 2025. 2. Suppose Perry'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 earned retirement annuity at the expected date of retirement (the end of 2055). 3. What is the company's projected benefit obligation at the end of 2025 with respect to Carol