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Question 1 1 pts Paddy started working for Sabbina Company when he was 25 years of age at a starting salary of $30,500. Salaries expect to increase by 2.5% per year. He is entitled to a pension of 2% of his final year's salary for each year of service. He intends to retire at age 65 and is expected to live 15 years after retirement. The discount rate is 5%. His pension payments will be paid at the beginning of each retirement year. Required: For the funding method accumulated benefit method, determine the company funding required for year 1 (funding is made at the end each year). Round to 2 decimals at each step. Choose the answer that is closest to the calculation. 992 0929 O 1093 O 689 Question 2 1 pts Chuck Lima started working for Sabbina Company when he was 25 years of age at a starting salary of $30,500. Salaries expect to increase by 2.5% per year. He is entitled to a pension of 2% of his final year's salary for each year of service. He intends to retire at age 65 and is expected to live 15 years after retirement. The discount rate is 5%. His pension payments will be paid at the beginning of each retirement year. Required: For the funding method projected unit method, determine the funding required for year 1 (funding payments occur at the end of the year). Round to 2 decimals at each step. Choose the answer closest to your calculation. 0 2586 O 3227 2663