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What is the amount of the projected benefit obligation

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Problem - Davison Company has a noncontributory defined benefit pension plan for its employees. During 2019, the pension plan has a discount rate of 8%, service cost of $98,000, plan assets as of 1/1/19 of $432,000, and an expected return on plan assets of $34,560. On December 31, 2019, Davison contributed $90,000 to the pension plan, resulting in a credit to Accrued/Prepaid Pension Cost of $6,300. What is the amount of the projected benefit obligation on January 1, 2019?

Reference no: EM132891232

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