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Question: The following information pertains to Lee Corporation's defined benefit pension plan for 2014:
Service cost $160,000
Actual and expected return on plan assets 35,000
Amortization of prior service costs 5,000
Interest on pension obligation 50,000
Required: Determine the pension expense that Lee Corporation would include in its 2014 net income.
a. Determine upper and lower control limits that will include roughly 97 percent of the sample means when the process is in control.
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