The Copper Canyon Company sponsors a defined benefit pension plan. The following information pertains to that plan: Projected benefit obligation at Jan. 1, 2007 $144 million
The Copper Canyon Company sponsors a defined benefit pension plan. The following information pertains to that
plan:
Projected benefit obligation at Jan. 1, 2007 $144 million
Service cost for 2007 36 million
Retiree benefits paid (end of year) 30 million
Discount rate 10%
No change in actuarial estimates occurred during 2007. What is Copper Canyon’s projected benefit obligation at December 31, 2007?
(A) $164.4 million
(B) $158.4 million
(C) $150.0 million
(D) $128.4 million
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