Question - The information is provided regarding a company's December 31, 2010 defined benefit pension plan:
Service cost $ 540,000
Projected benefit obligation, Jan. 1 4,000,000
Fair value plan assets, Jan. 1 3,300,000
Amortization of unrecognized prior service cost for the year 270,000
Interest cost 8%
Expected (and actual) return on plan assets 10%
Compute the amount of pension expense for 2010. Be sure to show your work.