On january 1, 2024, ravetch corporation’s projected benefit obligation was $30 million. during 2024, pension benefits paid by the trustee were $4 million. service cost for 2024 is $12 million. pension plan assets (at fair value) increased during 2024 by $6 million as expected. at the end of 2024, there were no pension-related other comprehensive income (oci) accounts. the actuary’s discount rate was 10%.
Required: Determine the amount of the projected benefit obligation at december 31, 2024.