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Cullumber Inc. received the following information from its pension plan trustee cor.cerning the operation of the company's defined benefit pension plan for the year ended
Cullumber Inc. received the following information from its pension plan trustee cor.cerning the operation of the company's defined benefit pension plan for the year ended December 31, 2021 1/1/21 12/31/21 Projected benefit obligation $ 13400000 $ 13820000 Pension assets (at fair value) 7100000 8150000 Accumulated benefit obligation 2850000 3270000 Net (gains) and losses 0 290000 The service cost component of pension expense for 2021 is $1050000 and the amortization of prior service cost due to an increase in benefits is $220000. The settlement rate is 11% and the expected rate of return is 9%. What is the amount of pension expense for 20217 $2105000 $1791500 O $2010500 0 $2151200
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