On January 1, 2024, Ravetch Corporation's projected benefit obligation was $55 million. During 2024, pension benefits paid be trustee were $5 million. Service cost for 2024 is $15 million. Pension plan assets (at fair value) increased during 2024 by $7 mil expected. At the end of 2024, there were no pension-related other comprehensive income (OC) accounts. The actuary's disce was 12%. Required: Determine the amount of the projected benefit obligation at December 31, 2024. Note: Enter your answers in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50). Amounts to deducted should be indicated with a minus sign. Projected Benefit Obligation

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.