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Question - The following information is available for the pension plan of Concord Company for the year 2017.
Actual and expected return on plan assets $13,800
Benefits paid to retirees 38,400
Contributions (funding) 79,900
Interest/discount rate 10% Prior service cost amortization 7,800
Projected benefit obligation, January 1, 2017 452,000
Service cost 54,700
Determine the pension expense for the year 2017.
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