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Discuss what was service cost for the year

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Lawrence Company has a defined benefit pension plan. On December 31 of the current year (the end of the fiscal year), the actuary's report to the company contained the following information: Ending PBO, $115,000; benefits paid to retirees, $15,000; interest cost, $9,000. The discount rate applied be the actuary was 9%. What was service cost for the year?

$6,000
$21,000
$24,000
$30,000

Reference no: EM131758410

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