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Compute the pension expense for the year

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Question - Veldre SpA provides the following information about its defined pension plan for the year 2019.

Service cost $90,000

Contribution to the plan 105,000

Benefits paid 40,000

Plan assets at January 1, 2019 640,000

Defined benefit obligation at January 1, 2019 700,000

Discount (interest) rate 10%

Required - Compute the pension expense for the year 2019.

Reference no: EM132736064

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