Question Details

ACCT 557
QUIZ 3

Question 6.	Question :	(TCO C) Kasper, Inc. sponsors a defined-benefit pension plan. The following data relates to the operation of the plan for the year 2013.            
            
Service cost                                                        $350,000 
Contributions to the plan                                       $225,000 
Actual return on plan assets                                  $185,000 
Projected benefit obligation (beginning of year)        $3,400,000 
Fair value of plan assets (beginning of year)            $3,300,000 
 
The expected return on plan assets and the settlement rate were both 9%. The amount of pension expense reported for 2013 is