Use the following to answer Questions 10-12. Metcalf Company offers its full-time employees a defined benefit pension plan. The following three exhibits were extracted from the financial footnotes of Metcalf's annual

report, prepared in accordance with U.S. Generally Accepted Accounting Principles, for the year ended 2021: Exhibit 1 - Selected Pension Data in millions Projected benefit obligation Plan assets at fair value Unamortized past service cost* Unamortized actuarial gain Employer contributions Actual return on assets 2021 $530.0 580.0 Discount rate Long-term government bond rate 29.7 58.3 *Additional benefits awarded in 2019. Exhibit 2- Pension Cost Reported in P&L in millions 2021 $48.0 Service cost Interest cost 21.2 Expected return on plan assets (46.9) Amortized past service cost 9.0 Pension cost in P&L $31.3 Exhibit 3- Pension Assumptions and Plan Asset Allocation 90.0 52.9 Compensation growth rate Expected rate of return on plan assets Inflation rate Plan asset allocation (Equity/Debt) 2021 5.0% 4.4% 3 2020 4.6% 4.0% 4.5% 3.9% 9.5% 9.0% 2.1% 1.7% 80/20 60/40 2019 4.1% 3.7% 4.8% 8.7% 1.4% 60/40 Metcalf uses the corridor approach to amortize its actuarial gains and losses. The average remaining service life of Metcalf's covered employees is 20 years. Metcalf is amortizing its past service cost over 10 more years on a straight-line basis./n12. At the end of 2021, Metcalf's pension plan is: $50.0 million overfunded. $87.1 million overfunded. $12.9 million underfunded. a. b. ل C.