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What is the current service cost for year

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Question - Yuno Company provides a defined benefit plan in which employees receive a lump sum post-employment benefits payable on termination of service and equal to 1% of final salary for each year of service. The salary of Yukiteru Amano in year 1 is $720.000 and is assumed to increase at 7% compound each year. The discount rate used is 10%. Yukiteru Amano is expected to leave at the end of year 5. What is the current service cost for year 2?

Reference no: EM132842904

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