(Answered) Question jones corporation decided to initiate a pension

Accounting

Question: Jones Corporation decided to initiate a pension plan as a part of its compensation plan. The plan will start on January 1, 2014. Each employee covered by the plan is entitled to a pension payment each year after retirement. The controller develops the following information related to the pension plan. The average length of time to retirement 15 years and the expected life duration after retirement 10 years. Total pension payment expected each year after retirement for all employees; made at of the year the present per year. The interest rate to be used is On the basis of the information above, determine value of the pension obligation (liability).

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