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		$	13200000			$	13620000
Pension assets (at fair value)			6900000				7950000
Accumulated benefit obligation			2750000				3170000
Net (gains) and losses			0				270000

The service cost component of pension expense for 2018 is $1030000 and the amortization of prior service cost due to an increase in benefits is $200000. The settlement rate is 9% and the expected rate of return is 7%. What is the amount of pension expense for 2018?