Lorin Management Services has an unfunded postretirement benefit plan. On December 31, 2011, the following data were available concerning changes in the plan's accumulated postretirement benefit obligation with respect to one of Lorin's employees:
APBO at the beginning of 2011 $ 40,000
Interest cost: ($40,000 × 10%) 4,000
Service cost: ($92,000 × 1/23) 4,000
Portion of EPBO
attributed to 2011
APBO at the end of 2011 $ 48,000
Required:
(1) Over how many years is the expected postretirement benefit obligation being expensed (attribution period)?
Number of years years
(2) What is the expected postretirement benefit obligation at the end of 2011? (Omit the "tiny_mce_markerquot; sign in your response.)
Expected postretirement benefit obligation
(3) When was the employee hired by Lorin? (Round your answer to the nearest whole number.)The time the employee hired by Lorin years before 2010
(4) What is the expected postretirement benefit obligation at the beginning of 2011?