Problem: Rolling Spring Company's pension plan reports the following end of year information:
Actuarial estimate of projected benefit obligation (PBO) at 1/1/Year 1 - $85,000
Assumed discount rate - 10%
Service cost for Year 1 - $25,000
Pension benefits paid during Year 1 - $20,000
If no change in actuarial estimates occurred during Year 1, calculate Rolling Spring's Projected Benefit Obligation at December 31, Year 1. (Show your work).
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