Question 3 and 4 are on the relation between discount rate and PV 3 Read "SES Pension Dentis Setto Soar if we keep the stream of payments the firm will need to make to retirees (note these are future cash outflows) constant will afirm's pension obligation be higher or lower with lower interest rate (note: a firm's pension obligation is estimated as the present value of the future payment stream)? Explain briefly (10 points) (FYI.GE later decided to freeze pension benefit https://www.bloomberg.comews/articles/2019-10-07/ge.freezes pension benes-to-cut deficit by up-to 8-billion)