Determine the amount of the projected benefit obligation

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On January 1, 2018, Burleson Corporation's projected benefit obligation was $41 million. During 2018 pension benefits paid by the trustee were $6 million. Service cost for 2018 is $15 million. Pension plan assets (at fair value) increased during 2018 by $8 million as expected. At the end of 2018, there was no prior service cost and a negligible balance in net loss-AOCI. The actuary's discount rate was 10%.

Problem 1: Determine the amount of the projected benefit obligation at December 31, 2018.

Reference no: EM132716932

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