Downing, 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, 2018. 1/1/18 12/31/18 Projected benefit obligation $11, 400,000 $11, 760,000 Pension assets (at fair value) and MRAV 6, 000,000 6,900,000 Accumulated benefit obligation 2,400,000 2,760,000 The service cost component of pension expense for 2018 is $840,000 and the amortization of prior service cost due to an increase in benefits is $180,000. The settlement rate is 10% and the expected rate of return is 8%. What is the amount of pension expense for 2018? 2050 $1,716,000 $1,680,000 $1,608,000 $1,440,000