Careful Consulting Company has an unfunded postretirement benefit plan. On December 31, 2013, the following data were available concerning changes in the plan's accumulated postretirement benefit obligation with respect to one of Careful's employees:
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APBO, January 1
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$32,728
|
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Interest cost ($32,728 x 8%)
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2,618
|
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Service cost: ($88,000 x 1/22)
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4,000
|
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APBO, December 31
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$39,346
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Required:
1) Over how many years is the expected postretirement benefit obligation being expensed?
2) What is the expected postretirement benefit obligation at the end of 2013?
3) When was the employee hired?
4) What is the expected postretirement benefit obligation at the beginning of 2013?