Blossom, Inc. received the following information from its pension plan trustee concerning the operation of the company's defined-benefit pension plan for the year ended December 31, 2021.

		1/1/21				12/31/21
Accumulated benefit obligation		$	3540000			$	1650000
Net (gains) and losses			1460000				153000
Projected benefit obligation			6680000				6840000
Pension assets (at fair value)			3540000				4050000

The service cost component of pension expense for 2021 is $516000 and the amortization of prior service cost due to an increase in benefits is $108000. The settlement rate is 11% and the expected rate of return is 7%. What is the amount of pension expense for 2021?

$883700

$958000

$1139500

$1111000

On January 1, 2021, Wildhorse Co. has the following balances:

Projected benefit obligation			$3350000
Fair value of plan assets			2850000

The settlement rate is 11%. Other data related to the pension plan for 2021 are:

Service cost			$297000
Amortization of prior service costs due to increase in benefits			97000
Contributions			497000
Benefits paid			222000
Actual return on plan assets			392000
Amortization of net gain			29700

The balance of the projected benefit obligation at December 31, 2021 is

$4015500.

$3718500.

$3793500.

$3757500.

Please walk through how you got the answers. Thank you!