1. The following information relates to the defined benefit pension plan for the BBB Company for the year ending

December 31, 20x8:

Present value of benefit obligation, January 1 P6,900,000

Present value of benefit obligation, December 31 7,793,500

Fair value of plan assets, January 1 7,552,500

Fair value of plan assets, December 31 8,347,500

Employer contribution 637,500

Benefits paid to retirees 585,000

Settlement rate 10%

Ceiling January 1 300,000

How much would be the net pension cost takes to profit and loss for the year 20x8?