A company adopted a defined benefit pension plan on December 15, 2021. The provisions of the plan were not made retroactive to prior years. Service cost was $40 million for 2021 and $300 million for 2022. The actuary recommends 5% as the appropriate discount rate. Year-end funding was $50 million for 2021 and $220 million for 2022. The actual return on plan assets was 10%. No retiree benefits were paid. Required: Calculate the following amounts as of both December 31, 2021, and December 31, 2022: a. Projected benefit obligation. b. Plan assets. c. Net pension asset or net pension liability.

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances