Hubbard, 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	$13,300,000	$13,720,000
Pension assets (at fair value)	7,000,000	8,050,000
Accumulated benefit obligation	2,800,000	3,220,000
Net (gains) and losses	-0-	280,000

The service cost component of pension expense for 2018 is $1,040,000 and the amortization of prior service cost due to an increase in benefits is $210,000. The settlement rate is 10% and the expected rate of return is 8%. What is the amount of pension expense for 2018?