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Question - Blossom Corp. provides a defined contribution pension plan for its employees. The plan requires blossom to contribute 5% of employees gross pay to a fund trustee each year. Blossoms total payroll for 2020 was $2,897,000. At the start of 2020, Blossom revised the terms of the plan, which resulted in past service costs of $943,400. Blossom expects to realize the economic benefits from the plan change for at least five years, beginning in 2020. Calculate Blossom's pension expenses for 2020 assuming that the company follows ASPE?
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