23. Your company has started a new pension fund and anticipates it will owe $22...
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Accounting
| 23. Your company has started a new pension fund and anticipates it will owe $22 million to retirees in 12 years. The company | |||||
| anticipates it will earn 8% per year on the funds invested in the pension plan. If the company wishes to make equal quarterly | |||||
| contributions to the fund, how much should the company set aside each quarter to fully fund the pension liability when it becomes due? PLEASE SHOW ALL CALCULATIONS.
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