Exercise 19-9 The following defined benefit pension data of Crane Corp. apply to the year 2017: Defined benefit obligation, funding basis, 1/1/17 (before amendment) Plan assets, 1/1/17 Net defined benefit liability, 1/1/17 On January 1, 2017, Crane Corp., through plan amendment, granted prior service benefits having a present value of Interest/discount rate Annual pension service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees $407,000 396,600 10,400 62,800 9% 42,000 40,400 38,000 43,600 The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on the funding basis. Exercise 19-9 The following defined benefit pension data of Crane Corp. apply to the year 2017: Defined benefit obligation, funding basis, 1/1/17 (before amendment) Plan assets, 1/1/17 Net defined benefit liability, 1/1/17 On January 1, 2017, Crane Corp., through plan amendment, granted prior service benefits having a present value of Interest/discount rate Annual pension service cost Contributions (funding) Actual return on plan assets Benefits paid to retirees $407,000 396,600 10,400 62,800 9% 42,000 40,400 38,000 43,600 The company applies ASPE and has made an accounting policy choice to base its actuarial valuation of the DBO on the funding basis