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Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PBO report from the actuary. The following information was included in the report: ending PBO, $110,000; benefits paid to retirees, $10,000; interest cost, $7,200. The discount rate applied by the actuary was 8%. What was the beginning PBO

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Answer:

Beginning projected benefit obligation = $90,000

Explanation:

Beginning projected benefit obligation = Interest cost / Discount rate

=$7,200 / 8%

=$7,200 / 0.08

=$90,000

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