Question: Bridgeport Company provides the following information about its defined benefit pension plan for the year 2017.
| Service cost |
|
$ 91,300 |
|
| Contribution to the plan |
|
102,900 |
|
| Prior service cost amortization |
|
9,500 |
|
| Actual and expected return on plan assets |
|
64,800 |
|
| Benefits paid |
|
39,400 |
|
| Plan assets at January 1, 2017 |
|
648,700 |
|
| Projected benefit obligation at January 1, 2017 |
|
694,400 |
|
| Accumulated OCI (PSC) at January 1, 2017 |
|
150,900 |
|
| Interest/discount (settlement) rate |
|
9 |
% |
Compute the pension expense for the year 2017.
| Pension expense for 2017 |
|
$
|