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Compute the amount of pension expense for the year

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Question - Current service cost for a defined benefit pension plan amounted to $6,000,000. This pension plan's assets generated $5,500,000 of income, which exceeded expectations by $1,000,000. Pension obligations incurred interest cost of $4,500,000, which were above expectations by $200,000. During the year, the company increased benefits in the pension plan and incurred $400,000 for past service cost. Compute the amount of pension expense for the year.

Reference no: EM132862517

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