Compute the amount of the PBO at December

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Reference no: EM132731761

Question - A company's defined benefit pension plan had a PBO of $270,000 on January 1, 2013. During 2013, pension benefits paid were $43,000. The discount rate for the plan for this year was 11%. Service cost for 2013 was $89,000. Plan assets (fair value) increased during the year by $51,000. Compute the amount of the PBO at December 31, 2013?

a. $227,000.

b. $388,700.

c. $345,700.

d. None of these is correct.

Reference no: EM132731761

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