8. Universal Company had the following information compiled with respect to its defined benefit pension plan for the current calendar year: Universal Company had the following information compiled with respect to its defined benefit pension plan for the current calendar year: PBO Plan assets Balance, January 1 $ 600,000 Balance, January 1 $ 500,000 Service cost 364,000 Actual return 50,000 Interest cost 60,000 Annual contribution 220,000 Benefits paid (90,000) Benefits paid (90,000) Balance, December 31 $ 934,000 Balance, December 31 $ 680,000 Assuming that the pension expense for the year is $384,000, what is the expected long-term rate of return on plan assets? O 8%. O 10%. O 6%. O None of these answers are correct. 9. What is Universal's discount rate? O 8%. 10%. O 6%. None of these answers are correct. 10. At year end, which of the following is true with respect to Universal's pension plan? O It is underfunded by $254,000. O It is underfunded by $100,000. It is overfunded by $254,000 It is overfunded by $100,000