1. On January 1, 2020, McGee Co. had the following balances: Projected benefit obligation $6,400,000 6,000,000 Fair value of plan assets Other data related to the pension plan for 2020: contributions to the plan 400,000 Benefits paid 350,000 On 1/1/20020, prior service cost was granted having a present value of 150,000 Actual return on plan assets 430,000 Settlement rate 996 Expected rate of return 7% 40,000 Amortized Prior Service cost Amortization of net gain 50,000 Service cost 250,000 Total pension expense for 2020 is