write my assignment 1222

On on January 1, 2018, Burleson corporation’s projected benefit obligation was 50 million dollars. During 2018 pension benefits paid by the trustee were 5 million dollars. Service cost for 2018 is 12 million dollars. Pension Plan assets at fair value increased during 2018 by 7 million dollars as expected. At the end of 2018, there was no prior service cost and a negligible balance and net loss-AOCI. The actuary’s discount rate was 10%.

1. Determine the amount of the projected benefit obligation at December 31st 2018. Enter your answers in millions rounded to two decimal places. Amounts to be deducted should be indicated with a minus sign.