Question: The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC). ($ in millions) Debit(Credit) PBO Plan

The following incomplete (columns have missing amounts) pension spreadsheet is for the current year for First Republic Corporation (FRC).

($ in millions) Debit(Credit) PBO Plan Assets Prior Service Cost Net (Gain)/Loss Pension Expense Cash Net Pension (Liability)/Asset
Beginning balance (720) 30 (92)
Service cost 64
Interest cost 36
Expected return on assets 70
Gain/loss on assets (4)
Amortization of:
Prior service cost (9)
Net gain/loss 5
Loss on PBO (10)
Contributions to fund (47)
Retiree benefits paid (67)
Ending balance 720 (83)

What was the actuary's interest (discount) rate?

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