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Fox Company received the following reports of its defined benefit pension plan for the current calendar year PBO Balance, January 1 Service cost Interest cost

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Fox Company received the following reports of its defined benefit pension plan for the current calendar year PBO Balance, January 1 Service cost Interest cost Benefits paid Balance, December 31 Plan assets $530,000 58,000 238,000 (99,000) $719,000 $610,000 Balance, January 1 367,000 Actual return 78,800 Annual contribution (99,00) Benefits paid $948,00 Balance, December 31 The long-term expected rate of return on plan assets is 8%. Assuming no other data are relevant, what is the pension expense for the year? Multiple Choice $379,000. $394,600 $437000 1nf Next>

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