Formula: PVOA = R (PVFOAn, i) PVOA = $700,000 (PVFOA2515, 8%) PVOA = $700,000 (10.67478 Present value of the expected annual pension payments at the beginning of the current year: PV = FV (PVFn, i) PV = $4,697,056 (PVF15,8%) PV = $4,697,056 (0.31524) PV = $1,480,700* *$10 difference due to rounding. The company”s pension obligation (liability) is $1,480,700. N=?