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Determine the amount of the accumulated postretirement

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Question - On January 1, 2016, Medical Transport Company's accumulated postretirement benefit obligation was $50 million. At the end of 2016, retiree benefits paid were $5 million. Service cost for 2016 is $4 million. Assumptions regarding the trend of future health care costs were revised at the end of 2016, causing the actuary to revise downward the estimate of the APBO by $3 million. The actuary's discount rate is 6%.

Determine the amount of the accumulated postretirement benefit obligation at December 31, 2016.

Reference no: EM132101333

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