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How much is current service cost during the year

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Reference no: EM133070416

Question - ABC Company provided the following information for the current year:

Projected Benefit Obligation, January 1: 3,500,000

Pension benefits paid to retired employees: 250,000

Past service costs: 500,000

Actuarial losses arising from re-measurement of projected benefit obligation: 200,000

Projected Benefit Obligation, December 31: 5,000,000

Discount rate based on high-quality corporate bonds is 10%. How much is current service cost during the year?

Reference no: EM133070416

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