6. What condition(s) is/are necessary to recognize an asset retirement obligation? A) Company has an existing legal obligation. B) Company has an existing legal obligation and can reasonably estimate the amount of the liability. C) Obligation event has occurred. D) Company can reasonably estimate the amount of the liability. Use the following to answer questions 7-8: The following data are for the pension plan for the employees of Lockett Company. 1/1/17 12/31/17 12/31/18 Accumulated benefit obligation $5,000,000 $5,200,000 $6,800,000 Projected benefit obligation 5,400,000 5,600,000 7,400,000 Plan assets (at fair value) 4,600,000 6,000,000 6,600,000 AOCL - net loss -0- 960,000 1,000,000 Settlement rate (for year) 10% 9% Expected rate of return (for year) 7% Lockett's contribution was $840,000 in 2018 and benefits paid were $750,000. Lockett estimates that the average remaining service life is 15 years. 8% 7. The corridor for 2018 was $600,000. The amount of AOCI-net loss amortized in 2018 was A) $28,000. B) $66,666. C) $24,000. D) $64,000. 8. The actual return on plan assets in 2018 was A) $310,000. B) $600,000. C) $510,000. D) $400,000