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Business, 29.03.2021 19:20 MoparorNocar061401

Babcock Company received the following reports of its defined benefit pension plan for the current calendar year: PBO Plan assets Balance, January 1 $ 640,000 Balance, January 1 $ 540,000 Service cost 368,000 Actual return 56,000 Interest cost 75,000 Annual contribution 228,000 Benefits paid (91,000 ) Benefits paid (91,000 ) Balance, December 31 $ 992,000 Balance, December 31 $ 733,000 The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for the year

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